9 The Foundational 15 [LO8-2, LO83, 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 it provided the following information to help prepare the master budget Part 9 of 15 a. The budgeted selling price per unit is $60. Budgeted unit sales for June, July, August, and September are 8,900. 20,000, 22,000, and 23,000 units, respectively. All sales are on credit b. Forty percent of credit sales are col C. The ending finished goods inventory equals 20% of the d. The ending raw materials inventory equals 10% of the following in the f the sale and 60% in the followi month. month's unit sales month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.50 per pound. e. Thirty pe rcent of raw materials purchases are paid for in the month of purchase and 70% in the following month. The direct labor wage rate is $13 per hour. Each unit of finished g. The variable selling and administrative expense per unit sold is $1.50. The fixed selling and administrative expense per month is $70,000. References Foundational 8-9 9. If 111000 pounds of raw materials are needed to meet production in August, what is the estimated raw materials inventory balance at the end of July? co Foundational 8-10 10. What is the total estimated direct labor cost for July assuming the direct labor workforce is adjusted to match the hours required to produce the forecasted number of units produced