Required information {The foii'owi'ng information applies to the questions {Displayed beiow] 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 $70. Budgeted unit sales for June, July, August, and September are 8,400, 10,000,12000, and 13.000 units. respectively. All sales are on credit. b. Forty percent of credit sales are collected in the month ofthe sale and 60% in the following month. c. The ending finished goods inventory equals 20% ofthe following months unit sales. d. The ending raw materials inventory equals1 '36 of the following month's ravi.r materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.00 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 $1.80. The fixed selling and administrative expense per month Is $60,000. 10. What is the total estimated direct labor cost for July? Required information [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 $70. Budgeted unit sales for June, July, August, and September are 8,400, 10,000, 12,000, and 13,000 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 $2.00 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 $1.80. The fixed selling and administrative expense per month is $60,000. 11. 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 unit product cost?Required information [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 $70. Budgeted unit sales for June, July, August, and September are 8,400, 10,000, 12,000, and 13,000 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 $2.00 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 $1.80. The fixed selling and administrative expense per month is $60,000. 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? Ending finished goods inventory0 Required information {The foilowing 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 $?0. Budgeted unit sales for June, July, August, and September are 8,400, 10,000,12000, and 13,000 units. respectively. All sales are on credit. b. Forty percent of credit sales are collected in the month ofthe sale and 60% in the following month. c. The ending finished goods inventory equals 20% ofthe following month's unit sales. d. The ending raw materials inventory egua|s10% ofthe following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.00 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 laborhours. g. The variable selling and administrative expense per unit sold is $1.80. The fixed selling and administrative expense per month is $60,000. 13. 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 cost of goods sold and gross margin for July? Estimated cost of goods sold _ Estimated gross margin _ 0 Required information [The foii'owing information appiies to the questions dismayed beiow] Morganton Company makes one product and it provided the following information to help prepare the master budget: a. 'he budgeted selling price per unit is $70. Budgeted unit sales for June, July, August, and September are 8,400, 1000012000, and 13.000 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. 'he ending finished goods inventory equals 20% of the following months unit sales. d. "he ending raw materials inventory equals1 {is ofthe following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.00 per pound. e. 'hirty percent of raw materials purchases are paid for in the month of purchase and ?0% in the following \"nonth. f. "he direct labor wage rate is $15 per hour. Each unit of finished goods requires two direct laborhours. g. "he variable selling and administrative expense per unit sold is $1.80. The fixed selling and administrative expense per month is $60,000. 15. If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $10 per direct laborhour, what is the estimated net operating income for July? Required information [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 $70. Budgeted unit sales for June, July, August, and September are 8,400, 10,000, 12,000, and 13,000 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 $2.00 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 $1.80. The fixed selling and administrative expense per month is $60,000. 5. If 61,000 pounds of raw materials are needed to meet production in August, how many pounds of raw materials should be purchased in July? Raw materials to be purchased poundsRequired information [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 $70. Budgeted unit sales for June, July, August, and September are 8,400, 10,000, 12,000, and 13,000 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 $2.00 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 $1.80. The fixed selling and administrative expense per month is $60,000. 6. If 61,000 pounds of raw materials are needed to meet production in August, what is the estimated cost of raw materials purchases for July? Cost of raw materials to be purchased0 Required information [The foiiowing information appiies to the questions displayed bellow] 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 $70. Budgeted unit sales for June, July, August, and September are 8,400, 10,000,12,000, and 13,000 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% ofthe following month's unit sales. d. The ending raw materials inventory equals 10% ofthe following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.00 per pound. e. Thirty percent of raw materials purchases are paid for in the month of purchase and 70% in the following 'nonth. f. The direct labor wage rate is $15 per hour. Each unit of finished goods requires two direct laborhours. g. The variable selling and administrative expense per unit sold is $1.80. The fixed selling and administrative expense per month is $60,000. 7. In July what are the total estimated cash disbursements for raw materials purchases? Assume the cost of raw material purchases in June is $88,880; and 61,000 pounds of raw materials are needed to meet production in August. Required information [The following information applies to the questions dismayed heron-{j 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 $70. Budgeted unit sales for June, July, August, and September are 8,400, 1000012000. and 13.000 units. respectively. All sales are on credit. b. Forty percent of credit sales are collected in the month ofthe sale and 60% in the following month. c. The ending finished goods inventory equals 20% of the following months unit sales. d. The ending raw materials inventory equa|s1 \"313 ofthe following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.00 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 $1.80. The fixed selling and administrative expense per month is $60,000. 8. If61,000 pounds of raw materials are needed to meet production in August. what is the estimated accounts payable balance at the end ofJuIy'? ! Required information [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 $70. Budgeted unit sales for June, July, August, and September are 8,400, 10,000, 12,000, and 13,000 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 $2.00 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 $1.80. The fixed selling and administrative expense per month is $60,000. 9. If 61,000 pounds of raw materials are needed to meet production in August, what is the estimated raw materials inventory balance at the end of July? Raw material inventory balanceRequired information [The foiiowing information appi'ies to the questions dismayed beiow] Mo ganton Company makes one product and it provided the following information to help prepare the master budget: a. "he budgeted selling price per unit is $?0. Budgeted unit sales for June, July, August, and September are 8,400, '0,000, 12,000, and 13.000 units. respectively. All sales are on credit. b. Forty percent of credit sales are collected in the month ofthe sale and 60% in the following month. c. 'he ending finished goods inventory equals 20% of the following months unit sales. d. 'he 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 $2.00 per pound. e. "hirty percent of raw materials purchases are paid for in the month of purchase and 70% in the following month. f. "he direct labor wage rate is $15 per hour. Each unit of finished goods requires two direct labor-hours. g. 'he variable selling and administrative expense per unit sold is $1.80. The fixed selling and administrative expense per month is $60,000. 4. According to the production budget, how many units should be produced in July? _