Morganton Company makes on product and it provided the following information to help prepare the master budget for its first four months of operations: a. The budget selling price per unit is $70. Budgeted unit sales for June, July, August, and September are 9,100, 22,000, 24,000, and 25,000 units, respectively. All sales are credit.

b. Forty percent of credit sales are collected in the month of the sale and 60% in the following month.

c. The ending finished goods inventory equals 20% of the following month's unit sales.

d. The ending raw materials inventory equals 10% of the followings month's raw materials production needs.

e. Forty percent of raw materials purchases are paid for in the month of purchase and 60% in the following month.

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

g. The variable selling and administrative expense per unit sold is $1.70. The fixed selling and administrative expense per month is $61,000.

1. If 96,800 pounds of raw materials are needed to meet production in August, how many pounds of raw materials should be purchased in July?

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

3. If the cost of raw material purchases in June is $127,520, what are the estimated cash disbursements for raw materials purchases in July?

4. what is the estimated accounts payable Balance at the end of July?

5. What is the estimated raw materials inventory Balance (in dollars) at the end of July?

6. What is the total estimated direct labor costs for July assuming the direct labor workforce is adjusted to match the hours required to produce the forecasted number of units produced?

7. If the company always uses an estimated predetermined plantwide overhead rate of $12 per direct labor hour, what is the estimated unit product cost?

8. What is the estimated finished goods inventory Balance at the end of July, if the company always uses an estimated predetermined plantwide overhead rate of $12 per direct labor-hour?

9. What is the estimated cost of goods sold and gross margin for July, if the company always uses an estimated predetermined plantwide overhead rate of $12 per direct labor hour?

10. What is the estimated net operation income for July, if the company always uses an estimated predetermined plantwide overhead rare of $12 per direct labor hour?