Required information Skip to question The following information applies to the questions displayed below Morganton Company makes one product and provided the following information to help prepare its master budget The budgeted selling price per unit is $70 Budgeted unit sales for June, July, August, and September are 8,800, 19,000, 21,000, and 22,000 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 The ending finished goods inventory equals 20 of the following months unit sales The ending raw materials inventory equals 10 of the following months raw materials production needs Each unit of finished goods requires 5 pounds of raw materials The raw materials cost $2 40 per pound Twenty five percent of raw materials purchases are paid for in the month of purchase and 75 in the following month The direct labor wage rate is $12 per hour Each unit of finished goods requires two direct labor hours The variable selling and administrative expense per unit sold is $2 00 The fixed selling and administrative expense per month is $69,000 11 If we assume there is no fixed manufacturing overhead and the variable manufacturing overhead is $10 per direct labor hour, what is the estimated unit product cost Note Round your answer to 2 decimal places 12 If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $10 per direct labor hour, what is the estimated finished goods inventory balance at the end of July 13 If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $10 per direct labor hour, what are the estimated cost of goods sold and gross margin for July 14 What is the estimated total selling and administrative expense for July 15 If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $10 per direct labor hour, what is the estimated net operating income for July 14 What is the estimated total selling and administrative expense for July

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Required information Skip to question [The following information applies to the questions displayed below.] Morganton Company makes one product and provided the following information to

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[The following information applies to the questions displayed below.]

Morganton Company makes one product and provided the following information to help prepare its master budget:

The budgeted selling price per unit is $70. Budgeted unit sales for June, July, August, and September are 8,800, 19,000, 21,000, and 22,000 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.
The ending finished goods inventory equals 20% of the following months unit sales.
The ending raw materials inventory equals 10% of the following months raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.40 per pound.
Twenty five percent of raw materials purchases are paid for in the month of purchase and 75% in the following month.
The direct labor wage rate is $12 per hour. Each unit of finished goods requires two direct labor-hours.
The variable selling and administrative expense per unit sold is $2.00. The fixed selling and administrative expense per month is $69,000.

11. If we assume there is no fixed manufacturing overhead and the variable manufacturing overhead is $10 per direct labor-hour, what is the estimated unit product cost?

Note: Round your answer to 2 decimal places.

12. If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $10 per direct labor-hour, what is the estimated finished goods inventory balance at the end of July?

13. If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $10 per direct labor-hour, what are the estimated cost of goods sold and gross margin for July?

14. What is the estimated total selling and administrative expense for July?

15. If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $10 per direct labor-hour, what is the estimated net operating income for July?

14. What is the estimated total selling and administrative expense for July?