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Morganton Company makes one product and it provided the following information to help prepare the master budge: for its first four months of operations a. The budgeted selling price per unit is $70. Budgeted unit sales for June, July, August and September are 9, 700, 28,000, 30,000, and 31.000 units, respectively. Ail 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 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 $15 per hour. Each unit of finished goods requires two direct labor-hours. g. The variable selling and administrative expense per unit sold is $170 The fixed selling and administrative expense per month is $67,000. What are the budgeted sales for July? What are the expected cash collections for July? What b the accounts receivable balance at the end of July? According to the production budget, how many units should be produced h July? If 120, 800 pounds of raw materials are needed to meet production in August how many pounds of raw materials should be purchased in July