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please help in this question asap Morganton Company makes one product and it provided the following information to help prepare the master budget for its
please help in this question asap
Morganton Company makes one product and it provided the following information to help prepare the master budget for its first four months of operations a. The budgeted selling price per unit is $65. Budgeted unlt sales for June July August, and September are 9,000, 21000, 23,000, and 24.000 units, respectively. All sales are on credit 6.30% of credit sales are collected in the month of the sale and 70% in the following month. The ending finished goods inventory equals 30% of the following month's unit sales. d. The ending raw materials inventory equals 20% of the following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The row materials cost $270 per pound. e 20% of raw materials purchases are pald for in the month of purchase and 80% in the following month. The direct labour wage rate is $10 per hour. Each unit of finished goods requires two direct labour-hours. 9. The variable selling and administrative expense per unit sold is $160. The fixed selling and administrative expense per month is $60,000 Required: 116.500 pounds of raw materials are needed for production in August, the cost of raw materials purchases in June is $194.400, what ate the estimated cash disbursements for raw materials purchases in July? To cash asb Step by Step Solution
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