Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

5 Morganton Company makes one product and it provided the following information to help prepare the master budget for its first four months of operations

image text in transcribed
5 Morganton Company makes one product and it provided the following information to help prepare the master budget for its first four months of operations 2 point a. The budgeted selling price per unit is $60 Budgeted unit sales for June July August, and September are 9.200 23,000,25.000, and 26,000 units, respectively. All sales are on credit b. 30% of credit sales are collected in the month of the sale and 70% in the following month The ending finished goods inventory equals 20% of the following month's unit sales d The ending raw materials inventory equals 10% of the following month's raw materials production needs Each unit of finished goods requires 4 pounds of raw materials. The raw materials cost $250 per pound e 30% of raw materials purchases are paid for in the month of purchase and 70% in the following month 1. The direct labour wage rate is $13 per hour Each unit of finished goods requires two direct labour-hours g. The variable selling and administrative expense per unit sold is $180 The fixed selling and administrative expense per months $62.000 0157 Required: What are the budgeted sales for July? Budgeted sales Actuate Windows

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Using Financial Accounting

Authors: Carl S. Warren, Jeff Jones, Amanda Farmer

1st Edition

0357507851, 9780357507858

More Books

Students also viewed these Accounting questions

Question

=+Part 1 What kind of client could use vernacular in the campaign?

Answered: 1 week ago