pequeu MUTITILIN The Foundational 15 (Algo) (LO8-2, LO8-3, L08-4, L08-5, 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 9,200, 23,000, 25,000, and 26,000 units, respectively. All sales are on credit. b. Thirty percent of credit sales are collected in the month of the sale and 70% 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 4 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 f. 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 $1.80. The fixed selling and administrative expense per month is $62,000 Foundational 8-2 (Algo) 2. What are the expected cash collections for July? 7462 c The Foundational 15 (Algo) (LO8-2, LO8-3, L08-4, L08-5, 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 unlt sales for June, July, August, and September are 9,200, 23,000,25,000, and 26,000 units, respectively. All sales are on credit b. Thirty percent of credit sales are collected in the month of the sale and 70% 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 4 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 $1.80. The fixed selling and administrative expense per month is $62,000. Foundational 8-3 (Algo) 3. What is the accounts receivable balance at the end of July? Antrove 828,000 The Foundational 15 (Algo) (LO8-2, L08-3, L08-4, L08-5, LO8-7, LO8-9, L08-10] [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 9,200, 23,000, 25,000, and 26,000 units, respectively. All sales are on credit. b. Thirty percent of credit sales are collected in the month of the sale and 70% 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 4 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 f. 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 unit sold is $1.80. The fixed selling and administrative expense per month is $62,000 Foundational 8-4 (Algo) 4. According to the production budget, how many units should be produced in July? Required production units The Foundational 15 (Algo) LO8-2, L08-3, L08-4, L08-5, LO8-7, LO8-9, L08-10] 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: 55 a. The budgeted selling price per unit is $60. Budgeted unit sales for June, July, August, and September are 9,200, 23,000,25,000, and 26,000 units, respectively. All sales are on credit. b. Thirty percent of credit sales are collected in the month of the sale and 70% 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 4 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. 9. The variable selling and administrative expense per unit sold is $1.80. The fixed selling and administrative expense per month is $62,000. cos Foundational 8-5 (Algo) 5. If 100,800 pounds of raw materials are needed to meet production in August, how many pounds of raw materials should be purchased in July? The Foundational 15 (Algo) (LO8-2, LO8-3, L08-4, L08-5, LO8-7, LO8-9, L08-10] [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 9,200, 23,000, 25.000, and 26,000 units, respectively. All sales are on credit. b. Thirty percent of credit sales are collected in the month of the sale and 70% 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 finished goods requires 4 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. f. 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 $1.80. The fixed selling and administrative expense per month is $62,000 Foundational 8-6 (Algo) 6. If 100,800 pounds of raw materials are needed to meet production in August, what is the estimated cost of raw materials purchases for July? Che The Foundational 15 (Algo) (LO8-2, LO8-3, LO8-4, LO8-5, L08-7, 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 9,200, 23,000, 25,000, and 26,000 units, respectively. All sales are on credit. b. Thirty percent of credit sales are collected in the month of the sale and 70% 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 4 pounds of raw materials. The raw materials cost $2.50 per pound. e. Thirty percent of raw materials purchases are pald 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. 9. The variable selling and administrative expense per unit sold is $1.80. The fixed seling and administrative expense per month is $62,000 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 $131,040, and $100,800 pounds of raw materials are needed to meet production in August Required information The Foundational 15 (Algo) [LO8-2, LO8-3, L08-4, L08-5, LO8-7, LO8-9, L08-10] [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 9,200 23,000,25,000, and 26,000 units, respectively. All sales are on credit. b. Thirty percent of credit sales are collected in the month of the sale and 70% 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 4 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 $180. The fixed selling and administrative expense per month is $62,000 Foundational 8-8 (Algo) 8. If 100,800 pounds of raw materials are needed to meet production in August, what is the estimated accounts payable balance at the end of July ch The Foundational 15 (Algo) (LO8-2, LO8-3, LOB-4, LO8-5, LOB-7, L08-9, L08-10] 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 unt sales for June, July, August, and September are 9,200, 23.000 25.000, and 25,000 units, respectively. All sales are on credit Thirty percent of credit sales are collected in the month of the sale and 70% in the following month c. 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 4 pounds of raw materials. The raw materials cost $2.50 per pound. e. Thirty percent of raw materials purchases are pold 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 9. The variable selling and administrative expense per unit sold is $180. The fixed selling and administrative expense per month is $62,000 Foundational 8-9 (Algo) 9. Ir 100,800 pounds of raw materials are needed to meet production in August, what is the estimated raw materials inventory balance at the end of July The Foundational 15 (Algo) [LO8-2, LO8-3, L08-4, LO8-5, LO8-7, LO8-9, L08-10] 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 9,200, 23,000, 25,000, and 26,000 units, respectively. All sales are on credit b. Thirty percent of credit sales are collected in the month of the sale and 70% 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 4 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 $1.80. The fixed selling and administrative expense per month is $62,000 Foundational 8-10 (Algo) 10. What is the total estimated direct labor cost for July? The Foundational 15 (Algo) (L08-2, LO8-3, L08-4, L08-5, LO8-7, L08-9, L08-10] 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 9,200, 23,000, 25,000, and 26,000 units, respectively. All sales are on credit. b. Thirty percent of credit sales are collected in the month of the sale and 70% 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 4 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. The variable selling and administrative expense per unit sold is $1.80. The fixed seling and administrative expense per month is $62,000. Foundational 8-11 (Algo) 11. If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $8 per direct labor-hour, what is the estimated unit product cost? (Round your answer to 2 decimal places.) The Foundational 15 (Algo) [LO8-2, LO8-3, LO8-4, L08-5, 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 9,200, 23,000, 25,000, and 26,000 units, respectively. All sales are on credit b. Thirty percent of credit sales are collected in the month of the sale and 70% 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 4 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 $180. The fixed selling and administrative expense per month is $62,000 Foundational 8-12 (Algo) 12. If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $8 per direct labor-hour what is the estimated finished goods Inventory balance at the end of July? The Foundational 15 (Algo) (L08-2, LO8-3, LO8-4, L08-5, 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 9,200, 23,000, 25,000, and 26,000 units, respectively. All sales are on credit. b. Thirty percent of credit sales are collected in the month of the sale and 70% 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 4 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. f. 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 $1.80. The fixed selling and administrative expense per month is $62,000 Foundational 8-13 (Algo) 13. If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $8 per direct labor-hour what is the estimated cost of goods sold and gross margin for July? The Foundational 15 (Algo) (LO8-2, L08-3, L08-4, LO8-5, L08-7, LO8-9, L08-10) [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 9,200, 23,000, 25,000, and 26,000 units, respectively. All sales are on credit. b. Thirty percent of credit sales are collected in the month of the sale and 70% 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 4 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. f. 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 unit sold is $1.80. The fixed selling and administrative expense per month is $62,000 Foundational 8-14 (Algo) 14. What is the estimated total selling and administrative expense for July? Total song and administrative expenses The Foundational 15 (Algo) (LO8-2, LO8-3, L08-4, L08-5, 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 9,200, 23,000, 25,000, and 26,000 units, respectively. All sales are on credit. b. Thirty percent of credit sales are collected in the month of the sale and 70% 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 4 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. 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 unit sold is $180. The fixed selling and administrative expense per month is $62,000. Foundational 8-15 (Algo) 15. If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $8 per direct labor hour. what is the estimated net operating income for July