5 Required information (The following information applies to the questions displayed below.) Morganton Company makes one product and it provided the following information to help prepare the master budget: a. The budgeted selling price per unit is $60. Budgeted unlt sales for June July August, and September are 8,600, 17,000, 19,000, and 20,000 units, respectively. All sales are on credit. b. Thirty percent of credit sales are collected in the month of the sale and 70% in the following month c. The ending finished goods Inventory equals 25% 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 5 pounds of raw materials. The raw materials cost $2.40 per pound. e. Thirty five percent of raw materials purchases are paid for in the month of purchase and 65% in the following month The direct labor wage rate is $14 per hour. Each unit of finished goods requires two direct labor-hours 9. The variable selling and administrative expense per unit sold is $1.80. The fixed selling and administrative expense per month is $67,000 11. If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $6 per direct labor-hour what is the estimated unit product cost? (Round your answer to 2 decimal places.) Unit product cost Required information The following information apolles to the questions displayed below) Morganton Company makes one product and it provided the following information to help prepare the master budget a. The budgeted selling price per unit is $60. Budgeted unit sales for June July, August, and September are 8,600, 17,000,19,000, and 20,000 units, respectively, All sales are on credit. b. Thirty percent of credit sales are collected in the month of the sale and 70% in the following month. c. The ending finished goods Inventory equals 25% 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 5 pounds of raw materials. The raw materials cost $2.40 per pound. e. Thirty five percent of raw materials purchases are paid for in the month of purchase and 65% in the following month. 1. The direct labor wage rate is $14 per hour. Each unit of finished goods requires two direct labor-hours. 9. The variable selling and administrative expense per unit sold is $180. The fixed selling and administrative expense per month is $67.000 12. If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $6 per direct labor hour, what is the estimated finished goods inventory balance at the end of July? Ending finished goods inventory Required information [The following information applies to the questions displayed below) Morganton Company makes one product and it provided the following information to help prepare the master budget: a. The budgeted selling price per unit is $60. Budgeted unit sales for June, July, August, and September are 8,600, 17,000, 19,000, and 20,000 units, respectively. All sales are on credit b. Thirty percent of credit sales are collected in the month of the sale and 70% in the following month. c. The ending finished goods inventory equals 25% 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 5 pounds of raw materials. The raw materials cost $2.40 per pound. e. Thirty five percent of raw materials purchases are paid for in the month of purchase and 65% in the following month. 1. The direct labor wage rate is $14 per hour. Each unit of finished goods requires two direct lobor-hours. 9. The variable selling and administrative expense per unit sold is $180. The fixed selling and administrative expense per month is $67,000 ces 13. If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $6 per direct labor-hour, what is the estimated cost of goods sold and gross margin for July? Estimated cost of goods sold Estimated gross margin 14 0 Part 14 of 15 Required information [The following information applies to the questions displayed below) Morganton Company makes one product and it provided the following information to help prepare the master budget. 0.52 points look a. The budgeted selling price per unit is $60. Budgeted unit sales for June July August, and September are 8,600, 17,000, 19,000, and 20,000 units, respectively. All sales are on credit. b. Thirty percent of credit sales are collected in the month of the sale and 70% in the following month c. The ending finished goods inventory equals 25% 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 5 pounds of raw materials. The raw materials cost $2.40 per pound e. Thirty five percent of raw materials purchases are paid for in the month of purchase and 65% in the following month 1. The direct labor wage rate is $14 per hour. Each unit of finished goods requires two direct lobor-hours. g. The valable selling and administrative expense per unit sold is $180. The fixed selling and administrative expense per month is $67,000 Fres Pit References 14. What is the estimated total selling and administrative expense for July? Toating and distrative expenses ! Required information [The following information applies to the questions displayed below.) Morganton Company makes one product and it provided the following information to help prepare the master budget a. The budgeted selling price per unit is $60. Budgeted unit sales for June July August, and September are 8,600, 17,000,19,000, and 20,000 units, respectively. All sales are on credit b. Thirty percent of credit sales are collected in the month of the sale and 70% in the following month c. The ending finished goods inventory equals 25% 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 5 pounds of raw materials. The raw materials cost $2.40 per pound e. Thirty five percent of raw materials purchases are paid for in the month of purchase and 65% in the following month. f. The direct labor wage rate is $14 per hour. Each unit of finished goods requires two direct labor-hours. 9. The variable selling and administrative expense per unit sold is $1.80. The fixed selling and administrative expense per month is $67,000 15. If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $6 per direct labor-hour, what is the estimated net operating income for July? Net operating income