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 $65. Budgeted unit sales for June, July, August and September are 9300,24000,26000, and 27000 units, respectively. All sales are on credit. B) 40% of credit sales are collected in the month of the sale and 60% in the following month. C) The ending finished goods inventory equals 30% of the following months unit sales. D) 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 $2.50 per pound. E) 30% of raw materials purchases are paid for in the month of the purchase and 70% in the following month. F) The direct labor wage rate is $14 per hour. Each unit of finished goods requires 2 direct labor-hours. G) The variable selling/administrative expense per unit is sold at $1.90. The fixed selling/administrative expense per month is $63000.

1) If 105,200 pounds of raw materials are needed to meet production in August, how many pounds of raw materials should be purchased in July?

2) If 105,200 pounds of raw materials are needed to meet production in August, what is the estimated cost of raw materials purchases for July?

3) In July what are the total estimated cash disbursements for raw materials purchases? Assume the cost of raw materials purchases in June is $158,880; and 105,200 pounds of raw materials are needed to meet production in August.

4) If 105,200 pounds of raw materials are needed to meet production in August, what is the estimated accounts payable balance at the end of July?

5) If 105,200 pounds of raw materials are needed to meet production in August,what is the estimated raw materials inventory balance at the end of July?

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

7) If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $9 per direct labor-hour, what is the estimated unit product cost?

8) If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $9 per direct labor-hour, what is the estimated finished goods inventory balance at the end of July?

9) If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $9 per direct labor-hour, what is the estimated cost of goods sold and gross margin for July?

10) What is the estimated total selling and administrative expense for July?

11) If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $9 per direct labor-hour, what is the estimated net operating income for July?