Morganton Company makes one product and it provided the following information to help prepare the master budget for its first four months of operations: a. The budgeted selling price per unit is $65. Budgeted unit sales for June, July, August, and September are 9,600, 27,000, 29.000, and 30,000 units, respectively. All sales are on credit. b. 30% of credit sales are collected in the month of the sale and 70% in the following month. c. The ending finished goods inventory equals 30% of the following month's unit sales: d. The ending raw materials inventory equals 20% of the following month's raw materials production needs. Each unit of finished goods requires 4 pounds of raw materials. The raw materials cost $250 per pound e. 25% of raw materials purchases are paid for in the month of purchase and 75% in the following month. f The direct labour wage rate is $13 per hour Fach unt of finished goods requires two difect labour-bours. 9. The variable selling and administrative experise per unit soid is $160. The fixed seling and administrative expense per month is $66.000 Required: What is the estimated cost of raw materials purchases for July