C D FZ https://prod.reader-ui.prod.mheducation.com/epub/sn_ed42c/data-uuid-04b28569226b4f528a28eb644733f8b2#data-uui... A Q <133 of 344 > Aa F The Foundational 15 [LO2-CC5, 6, 7, 8, 9, 10, 11, 12; LO3

C D FZ https://prod.reader-ui.prod.mheducation.com/epub/sn_ed42c/data-uuid-04b28569226b4f528a28eb644733f8b2#data-uui... A Q Aa F The Foundational 15 [LO2-CC5, 6, 7, 8, 9, 10, 11, 12; LO3 - CC13, 14] connect Morganton Company makes one product and it 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 $70. Budgeted unit sales for June, July, August, and September are 8,400, 10,000, 12,000, and 13,000 units, respectively. All sales are on credit. b. 40% of credit sales are collected in the month of the sale and 60% 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 finished goods requires 5 pounds of raw materials. The raw materials cost $2.00 per pound. e. 30% of raw materials purchases are paid for in the month of purchase and 70% in the following month. f. The direct labour wage rate is $15 per hour. Each unit of finished goods requires two direct labour-hours. g. The variable selling and administrative expense per unit sold is $1.80. The fixed selling and administrative expense per month is $60,000. Page 313 Required: 7-1 What are the budgeted sales for July? 7-2 What are the expected cash collections for July? 7-3 What is the accounts receivable balance at the end of July? Activate Windows 7-4 According to the production budget, how many units should be produced in July? Go to Settings to activate 7-5 If 61.000 pounds of raw materials are needed for production in August, how many pounds of raw materials should be purchased 19C Clear Type here to search lenovo