Chapter 8 Homework Server Help Set Sub 7. Punto Required information 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 125 a. The budgeted selling price per unit is $60 Budgeted unit sales for June July August, and September 9,000 29.000, 1000, and 32.000 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 The ending finished goods inventory equsis 20% of the following month's unities d. The ending raw materials inventory equals 10% 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 Thirty percent of raw materials purchases are paid for in the month of purchase and 70% in the following month The direct labor wage rates $15 per hour Esch unit of finished goods requires two direct labor-hours . The variable selling and administrative expense per unit sold is $180. The fixed selling and administrative expense per month is $68.000 12. we assume that there is no fred manufacturing overhead and the variable manufacturing overhead is 57 per direct laborhout what is the estimated finished goods inventory balance at the end of July! Ending finished gooty