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Need help on doing number 5 to 8 The following information applies to the questions displayed below Morganton Company makes one product and It provided
Need help on doing number 5 to 8
The following information applies to the questions displayed below Morganton Company makes one product and It provided the followlng Information to help prepare the master budget for lts first four months of operations a. The budgeted selling price per unlt is $65. Budgeted unlit sales for June, July, August, and September are 9,900, 30,000, 32,000, and 33,000 unlts, respectively. All sales are on credlt. 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 30% of the following month's unit sales. d. The ending raw materlals 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 $2.50 per pound. Forty percent of raw materials purchases are paid for in the month of purchase and 60% in the following month. e. t The direct labor wage rate is $12 per hour. Each unit of finished goods requires two direct labor-hours. g. The varlable selling and administrative expense per unit sold is $1.90. The fixed selling and administrative expense per month is $69,000. value: o.66 points Required: 1. What are the budgeted sales for July? Budgeted sales 1.950.000 Step by Step Solution
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