7. Pampered Chef makes one product and has provided the following information to help prepare the master budget for the next four months of operations: Budgeted selling price per unit $89 Budgeted unit sales (all on credit): July 9,500 August 11,800 September 10,500 October 11,300 Raw materials requirement per unit of output 3 pounds Raw materials cost $2.50 per pound Direct labor requirement per unit of output 2.1 direct labor- hours Direct labor wage rate $24.00 per direct labor hour Credit sales are collected: 40% in the month of the sale 60% in the following month Raw materials purchases are paid: 20% In the month of purchase 80% in the following month The ending finished goods inventory should equal 20% of the following month's sales. The ending raw materials inventory should equal 20% of the following month's raw materials production needs. Required: a. What are the budgeted sales in dollars for August? b. What are the expected cash collections for August? c. According to the production budget, how many units should be produced in August? d. If 20,960 pounds of raw materials are needed for production in September, how many pounds of raw materials should be purchased in August? e. What is the estimated cost of raw materials purchases for August