\f3. What is the accounts receivable balance at We end of July? 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 $70. Budgeted unit sales for June. .July, August. and September are 8.500, 16.000. 18,000. and 19,000 units, respectively. All sales are on credit. I). Forty percent of credit sales are collected in the month of the sale and 60% in the following month. c. The ending nished goods inventory equals 20% of the following month's unit sales. 0'. The ending raw materials inventory equals 10% of the following month's raw materials production needs. Each unit of nished goods requires 5 kilograms of raw materials. The raw materials cost $2.00 per kilogram. 9. Thirty percent of raw materials purchases are paid for in the month of purchase and ?0% in the following month. JEThe direct labour wage rate is $13 per hour. Each unit of nished goods requires two direct labour-hours. g. The variable selling and administrative expense per unit sold is $1.70. The xed selling and administrative expense per month is $66,000. Required: 1. What are the budgeted sales for July? :|