Required information [The following information apples to the auesnons displayed bevow] Morganton Company makes one product and has provided the following information to help prepare the master budget tor ite frest four months of operations: a. The budgeted seling price per unn is 570 . Budgeted unit sales for June. July. August, and 5 eptember are B.400, 10.000,12000 and 13,000 units, respectively. All soles 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 fintuhed goods inventory equals 205 of the following montis unit sales: d. The ending raw matensis inventory equals 10 s of the following months raw materials production needs. Each unit of finished goods requires 5 kliograms of raw matenak. The raw matenals cost $2.00 per kilogram e. Thirty percent of raw matenals purchases are paid for in the month of purchase and 70% in the following month. t The direct labour wage rate is 515 per hour tach unt of finithed goods tequires two direct labour-hours. 9. The varable selling and administrative expence per unt sold is 5.80. The fixed seling and administrative expense pet. month is $60.000 Required: 1. What are the budgeted cales for July? 2. What are the expected cash collections for July? 3. What is the accounts recelvable balance at the end of July? 4. According to the production budget, how many units should be produced In July? 5. If 61.000 kilograms of raw materials are needed to meet productlon in August, how many kilograms of raw matertais should be purchased in July? 6. What is the estimated cost of raw materlals purchases for July? 7. If the cost of raw matenal purchases in June is $88,880. What are the estmated cash disbursements for raw matenals purchases in July? 8. What is the estimated accounts payable balance at the end of July? 9. What is the estimated raw materials inventory balance at the end of July? 10. What is the total estmated direct labour cost for July assuming the direct labour workforce is adjusted to match the hours requtred. to produce the forecast numbet of units produced? 11. If the company always uses an esumated predetermined plantwide overhead rate of sio per direct labour-hour, what is the estimated unit product cost? 12. What is the estimated finished goods inventory balance at the end of July? 13. What is the estimated cost of goods sold and gross margin for July? 14. What is the estimated total selling and administrative expense for July