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Morganton Company makes one product and it provlded the following information to help prepare the master budget: a. The budgeted selling price per unit is
Morganton Company makes one product and it provlded the following information to help prepare the master budget: a. The budgeted selling price per unit is $60. Budgeted unit sales for June, July, August, and September are 9,500, 26,000,28,000, and 29,000 units, respectlvely. 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 25% of the following month's unit sales. d. The ending raw materlals Inventory equals 15% of the following month's raw materlals production needs. Each unit of finished goods requires 4 pounds of raw materlals. The raw materlals cost $2.40 per pound. e. Forty percent of raw materlals purchases are paid for in the month of purchase and 60% in the following month. f. The direct labor wage rate is $12 per hour. Each unit of finished goods requires two direct labor-hours. g. The varlable selling and administratlve expense per unit sold is $1.50. The fixed selling and administrative expense per month is $65,000. Foundational 8-1 (Algo) Requlred: 1. What are the budgeted sales for July
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