Morganton Company makes one product and it provided the following information to help prepare the master budget:

1. The budgeted selling price per unit is $60. Budgeted unit sales for June, July, August, and September are 8,000, 11,000, 13,000, and 14,000 units, respectively. All sales are on credit.
2. Thirty percent of credit sales are collected in the month of the sale and 70% in the following month.
3. The ending finished goods inventory equals 25% of the following months unit sales.
4. The ending raw materials inventory equals 10% of the following months raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.20 per pound.
5. Twenty percent of raw materials purchases are paid for in the month of purchase and 80% in the following month.
6. The direct labor wage rate is $12 per hour. Each unit of finished goods requires two direct labor-hours.
7. The variable selling and administrative expense per unit sold is $1.20. The fixed selling and administrative expense per month is $61,000.

14. What is the estimated total selling and administrative expense for July?

14 Required information The following information applies to the questions displayed below. Morganton Company makes one product and it provided the following information to help prepare the master budget: a. The budgeted selling price per unit is $60. Budgeted unit sales for June, July, August, and September are 8,000, Part 14 of 15 points 11,000, 13,000, and 14,000 units, respectively. All sales are on credit. b. Thirty percent of credit sales are collected in the month of the sale and 70% in the following month. C. The ending finished goods inventory equals 25% of the following month's unit sales d. The ending raw, materials inventory equals 1 %of the lowing month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.20 per pound e. Twenty pe f. The direct labor wage rate is $12 per hour. Each unit of finished goods requires two direct labor-hours g. The variable selingand administrative expense per unit sold is $1.20. The fixed seling and administrative expense per rcent of raw materials purchases are paid for in the month of purchase and 80% in the following month. month is $61,000. References 14. What is the estimated total selling and administrative expense for July? tal selling and administra