Aequired information (The folowing information apalies to the questions displayed below] Morganton Company makes one product, and has provided the following information to help prepare the master budget. for its first four months of operations: a. The budgeted selling price per unit is $60. Budgeted unit sales for June, July, August, and September are 8.000,11,000. 13.000 , and 14.000 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 finihed goods inventory equals 25% of the following monthis unit sales. a. The ending raw materials imventory equals 10% of the following month's tow materals production needs. Each wnit of finished goods requires 5 klograms of raw materials. The raw materials cost $2.20 per kilogram. e. Twenty percent of raw materials purchases are paid for in the month of purchase and 80% in the following month. t The direct labour wage rate is $12 per houf. Each unit of finished gogds recuires two direct labour-hours. g. The variable seling and administrathe expense per unit sold is $1.20. The fixed selling and administrathe expense per menth is $61,000 2. What are the expected cash collections for duly? 4. According to the production budget how masy units should be produced in duly? Fotin Limited produces and sels a single preduct a wearable LeD ligh for nunners and cyclsts. The analytes group at fortin Umined has developed the following estimutes for unit sales in the upsoming yeat. Each light requires two separafe LED bulbs, each of which costs $2. To ensure enough LED bulbs are on hand to subport short-verm production if a problem arises with the sole suppliet, fortin Limited maietains an ending inventory of 1o\% of the following euarter's production needs. A toeal of 4.400 LED bulbs wil be on hand to start the frst quarter of the upcoming fiscalyear. Monagement expects sales in the fourth quarter of the upcoming year to be the same as the frst quarter of the following year. Required: Prepare a direct maserials purchases budget for LED bulbs, by quarter and in total, for the upcoming fiscal yeac As the bothom of yeur busget, show the dollar amount of purchases for each quaner and for the year in total. Hint: Forin Limited maintains an ending invemory of beth raw materias and finished gosds of tow of the following euarter's prodaction needs. Before preparing a direct materiats budget the production budget must be prepared