Morganton Company makes one product and it provided the following information to help prepare the aster 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 uction needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.00 per pound. eThirty 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 S15 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 Required: 9. Whatis the estimatasventory balance at the end of Jly? 10. 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? 11. If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is S10 per direct labor-hour, what is the estimated unit product cost? 12. What is the estimated finished goods inventory balance at the end of July? 13. 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. What is the estimated net operating income for July