Morganton Company makes one product and it provided the following information t the master budget: a a. The budgeted selling price per unit is $70. Budgeted unit sales for June, July September are 8,400, 10,000, 12,000, and 13,000 units, respectively. All sales b. Forty percent of credit sales are collected in the month of the sale and 60% in the fol c. The ending finished goods inventory equals 20% of the following month's unit The ending raw materials inventory equals 10% of the following month's raw duction needs. Each unit of finished goods requires 5 pounds of raw materials. rials cost $2.00 per pound. d. e. Thirty percent of raw materials purchases are paid for in the month of purchase a following month. f. The direct labor wage rate is $15 per hour. Each unit of finished goods requi labor-hours. g. The variable selling and administrative expense per unit sold is $1.80. The fix administrative expense per month is $60,000. Use the information given in items a through g to prepare the master budget for AUGUST Required: Prepare the following budgets for August 4. Direct materials 5. Schedule of Expected Cash disbursements for purchases of materials 6. What is estimated accounts payable balance at the end of August? 7.What is the estimated raw material balance at the end of August? onal 15 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 $70. Budgeted unit sales for June, July, August, and September are 8,400, 10,000, 12,000, and 13,000 units, respectively. All sales are on 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 following month's raw materials pro- duction needs. Each unit of finished goods requires 5 pounds of raw materials. The raw mate- rials cost $2.00 per pound. e. Thirty percent of raw materials purchases are paid for in the month of purchase and 70% in the following month. f. The direct labor wage rate is $15 per hour. Each unit of finished goods requires two direct labor-hours. g. The variable selling and administrative expense per unit sold is $1.80. The fixed selling and administrative expense per month is $60,000