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apparently the answers I got (15600 units and 159250 respectfully) are wrong. I'm not sure what I'm doing wrong may I get an explanation and
apparently the answers I got (15600 units and 159250 respectfully) are wrong. I'm not sure what I'm doing wrong may I get an explanation and a formula? thank you!!!
Required information [The following information applles to the questions displayed below.] Morganton Company makes one product and provided the following information to help prepare its master budget: a. The budgeted selling price per unit is $70. Budgeted unit sales for June, July, August, and September are 8,200 , 13,000,15,000, and 16,000 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 20% 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 finlshed goods requires 5 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 varlable selling and administrative expense per unit sold is $1,40. The fixed selling and administrative expense per month is $63,000. 4. What is the estimated production in units for July? Required information [The following information applies to the questions displayed below.] Morganton Company makes one product and provided the following information to help prepare its master budget: a. The budgeted selling price per unit is $70. Budgeted unit sales for June, July, August, and September are 8,200 , 13,000,15,000, and 16,000 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 20% of the following month's unit sales. d. The ending raw materlals 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 $2.50 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 varlable selling and administrative expense per unit sold is $1.40. The fixed selling and adminlstrative expense per month is $63,000. 6. If 76,000 pounds of raw materials are needed to meet production in August, what is the estimated cost of raw materials purchases for JulyStep by Step Solution
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