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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 $65. Budgeted unit sales for June, July, August, and September are 9,300 , 24,000,26,000, and 27,000 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 4 pounds of raw materiais. The raw materials cost $2.50 per pound. e. Thirty percent of raw materials purchases are paid for in the month of purchase and 70% in the following month. f. The direct labor wage rate is $14 per hour. Each unit of finished goods requires two direct tabor-hours. 9. The variable selling and administrative expense per unit sold is $1.90. The fixed selling and administrative expense per month is $63,000. Eoundational 8-9 (Algo) If 105,200 pounds of raw materials are needed to meet production in August, what is the estimated raw materials inventory balance the end of July? 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 it provided the following information to help prepare the master budget: a. The budgeted selling price per unit is $65. Budgeted unit sales for June, July, August, and September are 9,300 , 24,000,26,000, and 27,000 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 4 pounds of raw materials. The raw materials cost $2.50 per pound. e. Thirty percent of raw materials purchases are paid for in the month of purchase and 70% in the following month. t. The direct labor wage rate is $14 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 $63,000. Foundational 8-11 (Algo) 11. If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $9 per direct labor-hour, what is the estimated unit product cost? (Round your answer to 2 decimal places.) The Foundational 15 (Algo) [LO8-2, L08-3, L08-4, L08-5, L08-7, 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: a. The budgeted selling price per unit is $65. Budgeted unit sales for June, July, August, and September are 9,300, 24,000,26,000, and 27,000 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 soles d. The ending raw materials inventory equals 20% of the following month's raw moterials production needs. Each unit of finished goods requires 4 pounds of raw materials. The raw materials cost $2.50 per pound. e. Thirty percent of raw materials purchases are paid for in the month of purchase and 70% in the following month. f. The direct lobor 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 $1.90. The fixed selling and administrative expense per month is $63,000. Foundational 8-8 (Algo) 8. If 105,200 pounds of raw moterials are needed to meet production in August, what is the estimated accounts payable belance at the and of July? The Foundational 15 (Algo) [LO8-2, L08-3, LO8-4, LO8-5, LO8-7, LO8-9, LO8-10] [The foliowing 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 $65. Budgeted unit sales for June, July, August, and September are 9,300. 24,000,26,000, and 27,000 units, respectively. All sales are on credit. b. Forty percent of credit sales are collected in the month of the sole and 60% in the following month. c. The ending finished goods inventory equals 30% of the following month's unit sales. d. The ending row materials inventory equals 20% of the following month's raw materials production needs. Each unit of finished goods requires 4 pounds of raw materials, The raw materials cost $2.50 per pound. e. Thirty percent of raw materials purchases are paid for in the month of purchase and 70% 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 varlable selling and administrative expense per unit sold is $1,90. The fixed selling and administrative expense per month is $63,000 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 $158,880, and $105,200 pounds of raw materials are needed to meet production in August. Required information The Foundational 15 (Algo) [LO8-2, L08-3, L08-4, L08-5, L08-7, L08-9, L08-10] [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: a. The budgeted selling price per unit is $65. Budgeted unit sales for June, July, August, and September are 9,300 . 24,000,26,000, and 27,000 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 4 pounds of raw materials. The raw materials cost $2.50 per pound. e. Thirty percent of raw materials purchases are paid for in the month of purchase and 70% 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 vatiable selling and administrative expense per unit sold is $1.90. The fixed selling and administrative expense per month is $63,000 Foundational 8.6 (Algo) 6. If 105,200 pounds of raw materials are needed to meet production in August, what is the estimated cost of raw materials purchases for July? The Foundational 15 (Algo) [LO8-2, L08-3, L08-4, LO8-5, L08-7, 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: a. The budgeted selling price per unit is $65. Budgeted unit sales for June, July, August, and September are 9,300 , 24,000,26,000, and 27,000 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 4 pounds of raw materials. The raw materials cost $2.50 per pound. e. Thirty percent of raw materials purchases are paid for in the month of purchase and 70% in the following month. f. The direct labor wage rate is $14 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 $63,000. Foundational 8-10 (Algo) 10. What is the total estimated direct labor cost for July? The Foundational 15 (Algo) [LO8-2, L08-3, L08-4, LO8-5, L08-7, 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: a. The budgeted selling price per unit is $65. Budgeted unit sales for June, July, August, and September are 9,300, 24,000,26,000, and 27,000 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 4 pounds of raw materials. The raw materials cost $2.50 per pound. e. Thirty percent of raw materials purchases are paid for in the month of purchase and 70% in the following month. f. The direct labor wage rate is $14 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 $63,000. Foundational 8-14 (Algo) 14. What is the estimated total selling and administrative expense for July