Help Save & EX 6 Morganton Company makes one product and it provided the following information to help prepare the master budget for its first four months of operations 2 Doints 8036 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. 30% of credit sales are collected in the month of the sale and 70% in the following month 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 $2.50 per pound e 30% of raw materials purchases are paid for in the month of purchase and 70% in the following month 1 The direct labour wage rate is $14 per hour Each unit of finished goods requires two direct labour-hours The variable selling and administrative expense per unit sold is $140 The fixed selling and administrative expense per months $63.000 Required: What is the estimated total selling and administrative expense for July? Total selling and administrative expenses