Part 2 of 3 Hequired information The Foundational 15 (Algo) (LO8-2, LO8-3, LO8-4, LOB-S, LO8-7, LO8-9, LO8-10) The following information applies to the questions displayed below) Morganton Company makes one product and it provided the following information to help prere the master budget 0.53 points a. 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, respective 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 shed goods inventory equals 20% of the following month's unit sales. d. The ending 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 $2.50 per pound e. Thirty percent of raw materials purchases are paid for in the month of purchase and 70% in the following month 1 The direct labor wage rate is $13 per hour. Each unit of finished goods requires two direct labor hours g. The variable selling and administrative expense per unit sold is $150. The fixed selling and administrative expense per month is $70,000 Book Print Foundational 8-2 (Algo) Burcu 2. What are the expected cash collections for July? To cash collection Required infortion The Foundational 15 (Algo) (LO8-2, LO8-3, LO8-4, LO8-5, LO8-7, LO8-9, LO8-10) The following information applies to the questions displayed below! Morganton Company makes one product and it provided 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 8,900. 20,000, 22.000 and 23,000 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 The ending finished goods inventory equals 20%he following month's unit sales d. The ending raw materials inventory equals 10% of the following month's raw materials production needs. Each unit of finished goods re res 5 pounds of raw materials. The raw materials cost $2.50 per pound. e. Thirty percent of r. 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 g. The variable selling and administrative expense per unit sold is $150. The fixed selling and administrative expense per month is $70,000 Foundational 8-3 (Algo) 3. What is the accounts receivable balance at the end of July? Accounts receivable of 13 Required information The Foundati 115 (Algo) (LOB-2, LO8-3, LOB-4, LOB-5, LO8-7, LO8-9, LO8-10) The following information applies to the questions displayed below! Morganton Company makes one product and it provided the following information to help prepare the master budget 4740 a. The budgeted selling price per unit is $60. Budgeted unit sales for June July August. and September we 8.900, 20,000, 22,000, and 23,000 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 The ending finished goods inventory equals 20% of the following month's unit Sales d The ending raw materials inventory equals 10% of following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. Traw materials cost $2.50 per pound e. Thirty percent of raw materials purchases are paid for in the month of purchase and 70% in the following month The direct labor wa rate is $13 per hour. Each unit of finished goods requres two direct labor-hours 9. The variable selling and administrative expense per unit sold is $150. The fixed selling and administrative expense per month is $70,000 Foundational 8.4 (Algo) 4. According to the production budget how many units should be produced in July? units Roured production Part 5 of 1 Required information The Foundational 15 (Algo) (LOB-2, LOB-3, LOB-4, LOB-S, LOB-7, LOB-9, LOB-10) The following information applies to the questions displayed below) Morganton Company makes one product and it provided the following information to help prepare the master budget 253 ins Sangeet a. The budgeted seing price per unit is $60. Budgeted une sales for June July August, and September are 8.900 20,000, 22,000 23,000 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 production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.50 per pound e Thirty percent of raw materials purchases are paid for in the month of purchase and 70% in the following month. 1. The direct labor wage rate is $13 per hour. Each unit of finished goods requires two direct laborhout g. The variable selling and administrative expense per unit sold is $150. The fixed selling and administeve experie per month is $70,000 Print rences Foundational 8-5 (Algo) 5. If 111.000 pounds of raw materials are needed to meet production in August, how many pounds of raw materials should be purchased in July? Raw material to be purchased pounds 6 of Required information The Foundational 15 (Algo) (LO8-2, LO8-3, LO8-4, LO8-5, LOS-7, LOB-9, LOB-10) The following information applies to the questions displayed below) Morganton Compar makes one product and it provides the following information to help prepare the master budget ped 3. 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. 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 productores Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.50 per pound e. Thirty percent of raw materials purchases are paid for in the month of purchase and 70% in the following month E The direct labor wage rate is $13 per hour. Each unit of finished goods requires two direct labor hours 9. The variable selling and administrative expense per sold is $150. The food selling and administrative expense per month is $70,000 Foundational 8-6 (Algo) 6. If 111.000 pounds of raw materials are needed to meet production in August, what is the estimated cost of raw materials purchases for July? Corrow manals to be purchased Part 7 Required information The Foundational 15 (Algo) LOS-2, LOB-3, LOS 08-5, LOS-7, LOB-9, LO8-10) The followinformation applies to the questions displayed below) Morganton Company makes one product and it provided the following information to help prepare the master budget 0.53 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 b. 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 manis unit sales. d. The ending raw materials inventory equs 10% of the following month's row materials production need.ch unit at finished goods requires 5 pounds of raw materials. The raw materials cost $250 per pound e. 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 $10 per hout. Each unit finished goods requires two direct labor-hours. o The variable selling and administrative expense per Sold is $150. The feed selling and administrative expense per month is $70,000 Foundational 8-7 (Algo) 7. In July what are the total estimated cash disbursements for raw materials purchases? Assume the cost of raw material purchases in June is $150,500 and $111.000 pounds of raw materials are needed to meet production in August Tot cash disumme on 13 13 Next >