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

The budgeted selling price per unit is $$60.$ Budgeted unit sales for June, July, August, and September are $8,900,20,000,22,000,$ and $23,000$ units, respectively. All sales are on credit.

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

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

The ending raw materials inventory equals $10\%$ of the following month$$s raw materials production needs. Each unit of finished goods requires $5$ pounds of raw materials. The raw materials cost $$2\mathrm{.}50$ per pound.

Thirty percent of raw materials purchases are paid for in the month of purchase and $70\%$ in the following month.

The direct labor wage rate is $$13$ per hour. Each unit of finished goods requires two direct labor$-$hours.

The variable selling and administrative expense per unit sold is $$1\mathrm{.}50.$ The fixed selling and administrative expense per month is $$70,000.$

Foundational $8-8($Algo$)$

$8.$ If $111,000$ pounds of raw materials are needed to meet production in August, what is the estimated accounts payable balance at the end of July?

$9.$ If $111,000$ pounds of raw materials are needed to meet production in August, what is the estimated raw materials inventory balance at the end of July?

$10.$ What is the total estimated direct labor cost for July?

$11.$ If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $$7$ per direct labor$-$hour, what is the estimated unit product cost? $($Round your answer to $2$ decimal places.$)$

$12.$ If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $$7$ per direct labor$-$hour, what is the estimated finished goods inventory balance at the end of July?

$13.$ If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $$7$ per direct labor$-$hour, what is the estimated cost of goods sold and gross margin for July?

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

$15.$ If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $$7$ per direct labor$-$hour, what is the estimated net operating income for July?