5 Part 5 of 15 3.33 points eBook References 0 Required information The Foundational 15 (Algo) [LO8-2, LO8-3, LO8-4, LO8-5, LO8-7, LO8-9, LO8-10] [The following information applies to the questions displayed below.] Morganton Company makes one product and provided the following information to help prepare its master budget: a. The budgeted selling price per unit is $65. Budgeted unit sales for June, July, August, and September are 8,700, 18,000, 20,000, and 21,000 units, respectively. All sales are on credit. b. Forty percent of credit sales are collected in the month of the sale and 60% in the following month. c. The ending finished goods inventory equals 30% of the following month's unit sales. d. The ending raw materials inventory equals 20% of the following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.00 per pound. e. Forty percent of raw materials purchases are paid for in the month of purchase and 60% in the following month. f. The direct labor wage rate is $15 per hour. Each unit of finished goods requires two direct labor-hours. g. The variable selling and administrative expense per unit sold is $1.90. The fixed selling and administrative expense per month is $68,000. Foundational 8-5 (Algo) 5. If 101,500 pounds of raw materials are needed to meet production in August, how many pounds of raw materials should be purchased in July? Raw materials to be purchased pounds

Required information The Foundational 15 (Algo) [LO8-2, LO8-3, L08-4, L08-5, L08-7, L08-9, LO8-10] [The following information applles to the questions displayed bolow] Morganton Company makes one product and provided the following information to help prepare its master budget a. The budgeted selling price per unit is $65 Budgeted unit sales for June, July, August, and September are 8,700 , 18,000,20,000, and 21,000 units, respectively. All soles are on credit. b. Forty percent of credit sales are colected in the month of the sale and 60% in the following month. c. The ending finished goods inventory equals 30% of the following month's unit sales d. The ending raw moteriais inventory equals 20 s of the following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $200 per pound e. Forty percent of row materials purchases are paid for in the month of purchase and 60% in the following month. t The direct labor wage rate is $15 per hout Each unit of finished goods requires two direct labor-hours. 9. The varable selling and administrative expense per unit sold is $1.90. The fored selling and administrative expense per month is $68.000. Foundational 8-10 (Algo) 10. What is the total estimated direct labor cost for July? Required information The Foundational 15 (Algo) [LO8-2, LO8-3, LO8-4, LO8-5, LO8-7, LO8-9, LO8-10] [The following information applles to the questions displayed below] Morganton Company makes one product and provided the following information to help prepare its master budget: a. The budgeted selling price per unit is $65. Budgeted unit sales for June, July, August, and September are 8,700 . 18,000,20,000, and 21,000 units, respectively. All sales are on credit b. Forty percent of credit sales are collected in the month of the sale and 60% in the following month c. The ending finished goods inventory equals 30% of the following month's unit sales. d. The ending raw materials inventory equals 20% of the following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.00 per pound e. Forty percent of raw materiais purchases are paid for in the month of purchase and 60% in the following month 1. The direct labor woge rate is $15 per hour Each unit of finished goods requires two direct labor-hours. 9. The variable selling and administrotive expense per unit sold is $190. The fixed selling and administrative expense per month is $68,000 Foundational 8.5 (Algo) 5 If 101,500 pounds of raw materials are needed to meet production in August, how many pounds of raw matentals should be purchased in July? Required information The Foundational 15 (Algo) [LO8-2, L08-3, LO8-4, L08-5, L08-7, LO8-9, LO8-10] [The following information applies to the questions displayed below] Morganton Company makes one product and provided the following information to help prepare its master budget: a. The budgeted selling price per unit is $65. Budgeted unit sales for June, July, August, and September are 8,700 . 18,000,20,000, and 21,000 units, respectively. All sales are on credit. b. Forty percent of credit sales are collected in the month of the sale and 60% in the following month. c. The ending finished goods inventory equals 30% of the following month's unit sales. d. The ending raw materials inventory equals 20% of the following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.00 per pound. e. Forty percent of raw materials purchases are paid for in the month of purchase and 60% in the following month. f. The direct labor wage rate is $15 per hour. Each unit of finished goods requires two direct labor-hours. 9. The variable selling and administrative expense per unit sold is $1.90. The fixed selling and administrative expense per month is $68,000. Foundational 8-14 (Algo) 14. What is the estimated total selling and administrative expense for July? Required information The Foundational 15 (Algo) [LO8-2, LO8-3, LO8-4, LO8-5, LO8-7, LO8-9, LO8-10] [The following information applies to the questions displayed below] Morganton Company makes one product and provided the following information to help prepare its master budget: a. The budgeted selling price per unit is $65. Budgeted unit sales for June, July. August, and September are 8,700 . 18,000,20,000, and 21,000 units, respectively. All sales are on credit. b. Forty percent of credit sales are collected in the month of the sale and 60% in the following month c. The ending finished goods inventory equals 30% of the following month's unit sales. d. The ending raw materials inventory equals 20% of the following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw moterials cost $2.00 per pound. e. Forty percent of row materials purchases are paid for in the month of purchose and 60% in the following month. t. The direct labor wage rate is $15 per hour. Each unit of finished goods requires two direct labor-hours. 9. The variable selling and administrative expense per unit sold is $1.90. The fixed selling and administrative expense per month is $68,000. Foundational 8-7 (Algo) 7 In July what are the total estimated cash disbursements for raw materials purchases? Assume the cost of raw material purchases in June is $129,120; and $101,500 pounds of raw materials are needed to meet production in August. Required information The Foundational 15 (Algo) [LO8-2, L08-3, LO8-4, LO8-5, LO8-7, LO8-9, LO8-10] [The following information applles to the questions displayed below] Morganton Company makes one product and provided the following information to help prepare its master budget. a. The budgeted selling price per unit is $65. Budgeted unit sales for June, July. August, and September are 8,700 , 18,000,20,000, and 21,000 units, respectively. All sales are on credit. b. Forty percent of credit sales are collected in the month of the sale and 60% in the following month c. The ending finished goods inventory equals 30% of the following month's unit sales. d. The ending raw materials inventory equals 20% of the following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.00 per pound e. Forty percent of raw materials purchases are paid for in the month of purchase and 60% in the following month 1. The direct labor wage rate is $15 per hour, Each unit of finished goods requires two direct labor-hours. 9. The variable selling and administrative expense per unit sold is $1.90. The fixed selling and administrative expense per month is $68,000 Foundational 8-13 (Algo) 13. If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $8 per direct labor-hour. what are the estimated cost of goods sold and gross margin for July? Required information The Foundational 15 (Algo) [LO8-2, L08-3, L08-4, L08-5, LO8-7, LO8-9, LO8-10] [The following information applles to the questions displayed below] Morganton Company makes one product and provided the following information to help prepare its master budget: a. The budgeted selling price per unit is $65. Budgeted unit sales for June, July, August, and September are 8,700, 18,000,20,000, and 21,000 units, respectively. All sales are on credit. b. Forty percent of credit sales are collected in the month of the sale and 60% in the following month. c. The ending finished goods inventory equals 30% of the following month's unit sales. d. The ending raw materials inventory equals 20% of the following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materiais, The raw materials cost $2.00 per pound e. Forty percent of raw materials purchases are paid for in the month of purchase and 60% in the following month. t. The direct labor wage rate is $15 per hour. Each unit of finished goods requires two direct labor-hours. 9. The varlable selling and administrative expense per unit sold is $190. The fixed selling and administrative expense per month is $68,000 Foundational 8-9 (Algo) 9. If 101,500 pounds of raw moterials are needed to meet production in August, what is the estimated raw materials inventory balance at the end of July? Required information The Foundational 15 (Algo) [LO8-2, L08-3, L08-4, L08-5, L08-7, L08-9, LO8-10] [The following information applies to the questions displayed below] Morganton Company makes one product and provided the following information to help prepare its master budget: a. The budgeted selling price per unit is $65. Budgeted unit sales for June, July, August, and September are 8,700 . 18,000,20,000, and 21,000 units, respectively. All sales are on credit. b. Forty percent of credit sales are collected in the month of the sale and 60% in the following month. c. The ending finished goods inventory equals 30% of the following month's unit soles. d. The ending raw materials inventory equals 20% of the following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $200 per pound e. Forty percent of raw materials purchases are paid for in the month of purchase and 60% in the following month. 1. The direct labor wage rate is $15 per hour. Each unit of finished goods requires two direct labor-hours. 9. The variable selling and administrative expense per unit sold is $1.90. The fixed selling and administrotive expense per month is $68,000. Foundational 8-11 (Algo) 11. If we assume there is no fored manufacturing overhead and the variable manufacturing overhead is $8 per direct labor-hour, what is the estimated unit product cost? Note: Round your answer to 2 decimal places. Required information The Foundational 15 (Algo) [LO8-2, LO8-3, LO8-4, LO8-5, LO8-7, LO8-9, LO8-10] The following information opplies to the questions displayed below] Morganton Company makes one product and provided the following information to help prepare its master budget: a. The budgeted selling price per unit is $65, Budgeted unit sales for June, July. August, and September are 8,700 , 18,000,20,000, and 21,000 units, respectively. All sales are on credit b. Forty percent of credit sales are collected in the month of the sale and 60% in the following month. c. The ending finished goods inventory equals 30% of the following month's unit sales. d. The ending raw materals inventory equals 20% of the following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $200 per pound e. Forty percent of row materials purchases are paid for in the month of purchase and 605 in the following month f. The direct labor wage rate is $15 per hour. Each unit of finished goods requires two direct labor-hours. 9. The variable selling and administrative expense per unit sold is $190 The fixed selling and administrative expense per month is $68,000 Foundational 8.6 (Algo) 6 If 101,500 pounds of raw materials are needed to meet production in August, what is the estimated cost of raw materiais purchases for July? Required information The Foundational 15 (Algo) [LO8-2, LO8-3, LO8-4, LO8-5, L08-7, LO8-9, LO8-10] The following information appiles to the questions displayed below] Morganton Company makes one product and provided the following information to help prepare its master budget: a. The budgeted selling price per unit is $65 Budgeted unit sales for June, July, August, and September are 8,700, 18,000,20,000, and 21,000 units, respectively. All soles are on credit. b. Forty percent of credit sales are collected in the month of the sale and 60% in the following month c. The ending finished goods inventory equals 30% of the following month's unit sales. d. The ending raw materials inventory equals 20% of the following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $200 per pound. e. Forty percent of raw materials purchases are paid for in the month of purchase and 60% in the following month. t The direct labor wage rate is $15 per hour. Each unit of finished goods requires two direct labor-hours. 9. The variable selling and administrative expense per unit soid is $190. The fixed selling and administrative expense per month is $68,000 Foundational 8-15 (Algo) 15. If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $8 per direct labor-hour, What is the estimated net operating income for July? Required information The Foundational 15 (Algo) [LO8-2, L08-3, L08-4, LO8-5, LO8-7, LO8-9, LO8-10] [The following information applies to the questions displayed below] Morganton Company makes one product and provided the following information to help prepare its master budget: a. The budgeted selling price per unt is $65. Budgeted unit sales for June, July. August, and September are 8,700 . 18,000,20,000, and 21,000 units, respectively. All sales are on credit. b. Forty percent of credit sales are collected in the month of the sale and 60% in the following month c. The ending finished goods inventory equals 30s of the following month's unit sales d. The ending raw materials inventory equals 20% of the following month's raw moterials production needs. Each unit of finished goods requires $ pounds of row materials. The raw materials cost $2.00 per pound e. Forty percent of raw materials purchases are paid for in the month of purchase and 60% in the following month. t. The direct labor wage rate is $15 per hour. Each unit of finished goods requires two direct labor-hours. 9. The varioble selling and administrative expense per unit sold is $1.90. The fixed selling and administrative expense per month is $68,000 Foundational 8.8 (Algo) 8. If 101,500 pounds of row materials are needed to meet production in August, what is the estimated accounts payable balance at the end of July? Required information The Foundational 15 (Algo) [LO8-2, LO8-3, LO8-4, LO8-5, L08-7, L08-9, L08-10] [The following information applies to the questions displayed below] Morganton Company makes one product and provided the following information to help prepare its master budget: a. The budgeted selling price per unit is $65. Budgeted unit sales for June, July. August, and September are 8,700 . 18,000,20,000, and 21,000 units, respectively. All sales are on credit. b. Forty percent of credit sales are collected in the month of the sale and 60% in the following month. c. The ending finished goods invertory equals 30% of the following month's unit sales. d. The ending raw materlals inventory equals 20% of the following month's raw materials procluction needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $200 per pound. e. Forty percent of row materials purchases are poid for in the month of purchase and 60% in the following month. f The direct labor wage rate is $15 per hour. Each unit of finished goods requires two direct labor-hours. 9. The variable selling and administrative expense per unit sold is $1.90. The fixed selling and administrative expense per month is $68,000. Foundational 8-12 (Algo) 12. If we assume that there is no frxed manufacturing overhead and the variable manufacturing overhead is $8 per direct labor-hour, What is the estimated finished goods inventory balance at the endof July? Required information The Foundational 15 (Algo) [LO8-2, LO8-3, L08-4, L08-5, L08-7, L08-9, LO8-10] [The following information applles to the questions displayed bolow] Morganton Company makes one product and provided the following information to help prepare its master budget a. The budgeted selling price per unit is $65 Budgeted unit sales for June, July, August, and September are 8,700 , 18,000,20,000, and 21,000 units, respectively. All soles are on credit. b. Forty percent of credit sales are colected in the month of the sale and 60% in the following month. c. The ending finished goods inventory equals 30% of the following month's unit sales d. The ending raw moteriais inventory equals 20 s of the following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $200 per pound e. Forty percent of row materials purchases are paid for in the month of purchase and 60% in the following month. t The direct labor wage rate is $15 per hout Each unit of finished goods requires two direct labor-hours. 9. The varable selling and administrative expense per unit sold is $1.90. The fored selling and administrative expense per month is $68.000. Foundational 8-10 (Algo) 10. What is the total estimated direct labor cost for July? Required information The Foundational 15 (Algo) [LO8-2, LO8-3, LO8-4, LO8-5, LO8-7, LO8-9, LO8-10] [The following information applles to the questions displayed below] Morganton Company makes one product and provided the following information to help prepare its master budget: a. The budgeted selling price per unit is $65. Budgeted unit sales for June, July, August, and September are 8,700 . 18,000,20,000, and 21,000 units, respectively. All sales are on credit b. Forty percent of credit sales are collected in the month of the sale and 60% in the following month c. The ending finished goods inventory equals 30% of the following month's unit sales. d. The ending raw materials inventory equals 20% of the following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.00 per pound e. Forty percent of raw materiais purchases are paid for in the month of purchase and 60% in the following month 1. The direct labor woge rate is $15 per hour Each unit of finished goods requires two direct labor-hours. 9. The variable selling and administrotive expense per unit sold is $190. The fixed selling and administrative expense per month is $68,000 Foundational 8.5 (Algo) 5 If 101,500 pounds of raw materials are needed to meet production in August, how many pounds of raw matentals should be purchased in July? Required information The Foundational 15 (Algo) [LO8-2, L08-3, LO8-4, L08-5, L08-7, LO8-9, LO8-10] [The following information applies to the questions displayed below] Morganton Company makes one product and provided the following information to help prepare its master budget: a. The budgeted selling price per unit is $65. Budgeted unit sales for June, July, August, and September are 8,700 . 18,000,20,000, and 21,000 units, respectively. All sales are on credit. b. Forty percent of credit sales are collected in the month of the sale and 60% in the following month. c. The ending finished goods inventory equals 30% of the following month's unit sales. d. The ending raw materials inventory equals 20% of the following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.00 per pound. e. Forty percent of raw materials purchases are paid for in the month of purchase and 60% in the following month. f. The direct labor wage rate is $15 per hour. Each unit of finished goods requires two direct labor-hours. 9. The variable selling and administrative expense per unit sold is $1.90. The fixed selling and administrative expense per month is $68,000. Foundational 8-14 (Algo) 14. What is the estimated total selling and administrative expense for July? Required information The Foundational 15 (Algo) [LO8-2, LO8-3, LO8-4, LO8-5, LO8-7, LO8-9, LO8-10] [The following information applies to the questions displayed below] Morganton Company makes one product and provided the following information to help prepare its master budget: a. The budgeted selling price per unit is $65. Budgeted unit sales for June, July. August, and September are 8,700 . 18,000,20,000, and 21,000 units, respectively. All sales are on credit. b. Forty percent of credit sales are collected in the month of the sale and 60% in the following month c. The ending finished goods inventory equals 30% of the following month's unit sales. d. The ending raw materials inventory equals 20% of the following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw moterials cost $2.00 per pound. e. Forty percent of row materials purchases are paid for in the month of purchose and 60% in the following month. t. The direct labor wage rate is $15 per hour. Each unit of finished goods requires two direct labor-hours. 9. The variable selling and administrative expense per unit sold is $1.90. The fixed selling and administrative expense per month is $68,000. Foundational 8-7 (Algo) 7 In July what are the total estimated cash disbursements for raw materials purchases? Assume the cost of raw material purchases in June is $129,120; and $101,500 pounds of raw materials are needed to meet production in August. Required information The Foundational 15 (Algo) [LO8-2, L08-3, LO8-4, LO8-5, LO8-7, LO8-9, LO8-10] [The following information applles to the questions displayed below] Morganton Company makes one product and provided the following information to help prepare its master budget. a. The budgeted selling price per unit is $65. Budgeted unit sales for June, July. August, and September are 8,700 , 18,000,20,000, and 21,000 units, respectively. All sales are on credit. b. Forty percent of credit sales are collected in the month of the sale and 60% in the following month c. The ending finished goods inventory equals 30% of the following month's unit sales. d. The ending raw materials inventory equals 20% of the following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.00 per pound e. Forty percent of raw materials purchases are paid for in the month of purchase and 60% in the following month 1. The direct labor wage rate is $15 per hour, Each unit of finished goods requires two direct labor-hours. 9. The variable selling and administrative expense per unit sold is $1.90. The fixed selling and administrative expense per month is $68,000 Foundational 8-13 (Algo) 13. If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $8 per direct labor-hour. what are the estimated cost of goods sold and gross margin for July? Required information The Foundational 15 (Algo) [LO8-2, L08-3, L08-4, L08-5, LO8-7, LO8-9, LO8-10] [The following information applles to the questions displayed below] Morganton Company makes one product and provided the following information to help prepare its master budget: a. The budgeted selling price per unit is $65. Budgeted unit sales for June, July, August, and September are 8,700, 18,000,20,000, and 21,000 units, respectively. All sales are on credit. b. Forty percent of credit sales are collected in the month of the sale and 60% in the following month. c. The ending finished goods inventory equals 30% of the following month's unit sales. d. The ending raw materials inventory equals 20% of the following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materiais, The raw materials cost $2.00 per pound e. Forty percent of raw materials purchases are paid for in the month of purchase and 60% in the following month. t. The direct labor wage rate is $15 per hour. Each unit of finished goods requires two direct labor-hours. 9. The varlable selling and administrative expense per unit sold is $190. The fixed selling and administrative expense per month is $68,000 Foundational 8-9 (Algo) 9. If 101,500 pounds of raw moterials are needed to meet production in August, what is the estimated raw materials inventory balance at the end of July? Required information The Foundational 15 (Algo) [LO8-2, L08-3, L08-4, L08-5, L08-7, L08-9, LO8-10] [The following information applies to the questions displayed below] Morganton Company makes one product and provided the following information to help prepare its master budget: a. The budgeted selling price per unit is $65. Budgeted unit sales for June, July, August, and September are 8,700 . 18,000,20,000, and 21,000 units, respectively. All sales are on credit. b. Forty percent of credit sales are collected in the month of the sale and 60% in the following month. c. The ending finished goods inventory equals 30% of the following month's unit soles. d. The ending raw materials inventory equals 20% of the following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $200 per pound e. Forty percent of raw materials purchases are paid for in the month of purchase and 60% in the following month. 1. The direct labor wage rate is $15 per hour. Each unit of finished goods requires two direct labor-hours. 9. The variable selling and administrative expense per unit sold is $1.90. The fixed selling and administrotive expense per month is $68,000. Foundational 8-11 (Algo) 11. If we assume there is no fored manufacturing overhead and the variable manufacturing overhead is $8 per direct labor-hour, what is the estimated unit product cost? Note: Round your answer to 2 decimal places. Required information The Foundational 15 (Algo) [LO8-2, LO8-3, LO8-4, LO8-5, LO8-7, LO8-9, LO8-10] The following information opplies to the questions displayed below] Morganton Company makes one product and provided the following information to help prepare its master budget: a. The budgeted selling price per unit is $65, Budgeted unit sales for June, July. August, and September are 8,700 , 18,000,20,000, and 21,000 units, respectively. All sales are on credit b. Forty percent of credit sales are collected in the month of the sale and 60% in the following month. c. The ending finished goods inventory equals 30% of the following month's unit sales. d. The ending raw materals inventory equals 20% of the following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $200 per pound e. Forty percent of row materials purchases are paid for in the month of purchase and 605 in the following month f. The direct labor wage rate is $15 per hour. Each unit of finished goods requires two direct labor-hours. 9. The variable selling and administrative expense per unit sold is $190 The fixed selling and administrative expense per month is $68,000 Foundational 8.6 (Algo) 6 If 101,500 pounds of raw materials are needed to meet production in August, what is the estimated cost of raw materiais purchases for July? Required information The Foundational 15 (Algo) [LO8-2, LO8-3, LO8-4, LO8-5, L08-7, LO8-9, LO8-10] The following information appiles to the questions displayed below] Morganton Company makes one product and provided the following information to help prepare its master budget: a. The budgeted selling price per unit is $65 Budgeted unit sales for June, July, August, and September are 8,700, 18,000,20,000, and 21,000 units, respectively. All soles are on credit. b. Forty percent of credit sales are collected in the month of the sale and 60% in the following month c. The ending finished goods inventory equals 30% of the following month's unit sales. d. The ending raw materials inventory equals 20% of the following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $200 per pound. e. Forty percent of raw materials purchases are paid for in the month of purchase and 60% in the following month. t The direct labor wage rate is $15 per hour. Each unit of finished goods requires two direct labor-hours. 9. The variable selling and administrative expense per unit soid is $190. The fixed selling and administrative expense per month is $68,000 Foundational 8-15 (Algo) 15. If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $8 per direct labor-hour, What is the estimated net operating income for July? Required information The Foundational 15 (Algo) [LO8-2, L08-3, L08-4, LO8-5, LO8-7, LO8-9, LO8-10] [The following information applies to the questions displayed below] Morganton Company makes one product and provided the following information to help prepare its master budget: a. The budgeted selling price per unt is $65. Budgeted unit sales for June, July. August, and September are 8,700 . 18,000,20,000, and 21,000 units, respectively. All sales are on credit. b. Forty percent of credit sales are collected in the month of the sale and 60% in the following month c. The ending finished goods inventory equals 30s of the following month's unit sales d. The ending raw materials inventory equals 20% of the following month's raw moterials production needs. Each unit of finished goods requires $ pounds of row materials. The raw materials cost $2.00 per pound e. Forty percent of raw materials purchases are paid for in the month of purchase and 60% in the following month. t. The direct labor wage rate is $15 per hour. Each unit of finished goods requires two direct labor-hours. 9. The varioble selling and administrative expense per unit sold is $1.90. The fixed selling and administrative expense per month is $68,000 Foundational 8.8 (Algo) 8. If 101,500 pounds of row materials are needed to meet production in August, what is the estimated accounts payable balance at the end of July? Required information The Foundational 15 (Algo) [LO8-2, LO8-3, LO8-4, LO8-5, L08-7, L08-9, L08-10] [The following information applies to the questions displayed below] Morganton Company makes one product and provided the following information to help prepare its master budget: a. The budgeted selling price per unit is $65. Budgeted unit sales for June, July. August, and September are 8,700 . 18,000,20,000, and 21,000 units, respectively. All sales are on credit. b. Forty percent of credit sales are collected in the month of the sale and 60% in the following month. c. The ending finished goods invertory equals 30% of the following month's unit sales. d. The ending raw materlals inventory equals 20% of the following month's raw materials procluction needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $200 per pound. e. Forty percent of row materials purchases are poid for in the month of purchase and 60% in the following month. f The direct labor wage rate is $15 per hour. Each unit of finished goods requires two direct labor-hours. 9. The variable selling and administrative expense per unit sold is $1.90. The fixed selling and administrative expense per month is $68,000. Foundational 8-12 (Algo) 12. If we assume that there is no frxed manufacturing overhead and the variable manufacturing overhead is $8 per direct labor-hour, What is the estimated finished goods inventory balance at the endof July