Maestro Corporation makes one product and has provided you with the following information to help prepare its master budget:

The budgeted selling price per unit is $70. Budgeted unit sales for June, July, August, and September are 8,400, 11,200, 12,000, and 13,000 units, respectively. All sales are on credit Forty percent of credit sales are collected in the month of the sale and 60.0% are collected a in the following month.

The ending finished goods inventory equals 20% of the following months unit sales.

The ending raw materials inventory equals 20% of the following months raw materials production needs. Each unit of finished goods requires 4 pounds of raw materials. The raw materials cost $2.25 per pound.

Thirty percent of raw materials purchases are paid for in the month of purchase and 70% are paid in the following month.

The direct labor wage rate is $12 per hour. Each unit of finished goods requires 3 direct labor hours.

The variable selling and administrative expense per unit sold is $2.10. The fixed selling and administrative expense per month is $35,000.

e. If 61,000 pounds of raw materials are needed to meet production in August, how many pounds of raw materials should be purchased in July?

f. What is the estimated cost of raw materials purchases for July?

g. In July what are the total estimated cash disbursements for raw materials purchases? Assume the cost of raw material purchases in June is $88,880.

h. What is the estimated accounts payable balance at the end of July?