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I really need help with these answers within the next hour, please help me because I ' m not even understanding where to start Required
I really need help with these answers within the next hour, please help me because Im not even understanding where to start
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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 $ Budgeted unit sales for June, July, August, and September are
and units, respectively. All sales are on credit.
b Forty percent of credit sales are collected in the month of the sale and in the following month.
c The ending finished goods inventory equals of the following month's unit sales.
d The ending raw materials inventory equals of the following month's raw materials production needs. Each unit of
finished goods requires pounds of raw materials. The raw materials cost $ per pound.
e Thirty percent of raw materials purchases are paid for in the month of purchase and in the following month.
f The direct labor wage rate is $ per hour. Each unit of finished goods requires two direct laborhours.
g The variable selling and administrative expense per unit sold is $ The fixed selling and administrative expense per
month is $
required questions:
What are the budgeted sales for July?
What are the expected cash collections for July?
What is the accounts receivable balance at the end of July?
What is the estimated production in units for July?
If pounds of raw materials are needed to meet production in August, how many pounds of raw materials should be purchased in July?
if pounds of raw materials are needed to meet production in August, what is the estimated cost of raw materials purchases for July?
In July what are the total estimated cash disbursements for raw materials purchases? Assume the cost of raw material purchases in June is $; and pounds of raw materials are needed to meet production in August.
If pounds of raw materials are needed to meet production in August, what is the estimated accounts payable balance at the end of July?
If pounds of raw materials are needed to meet production in August, what is the estimated raw materials inventory balance at the end of July?
What is the total estimated direct labor cost for July?
If we assume there is no fixed manufacturing overhead and the variable manufacturing overhead is $ per direct laborhour, what is the estimated unit product cost?
If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $ per direct laborhour, what is the estimated finished goods inventory balance at the end of July?
If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $ per direct laborhour, what are the estimated cost of goods sold and gross margin for July?
What is the estimated total selling and administrative expense for July?
If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $ per direct laborhour, what is the estimated net operating income for July?
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