Required information

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

Morganton Company makes one product, and has 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 $$60.$ Budgeted unit sales for June, July, August, and September are $9,200,$

$23,000,25,000,$ and $26,000$ units, respectively. All sales are on credit.

$b.$ Thirty percent of credit sales are collected in the month of the sale and $70\%$ 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 $4$ kilograms of raw materials. The raw materials cost $$2\mathrm{.}50$ per kilogram.

e$.$ Thirty percent of raw materials purchases are paid for in the month of purchase and $70\%$ in the following month.

$f$ The direct labour wage rate is $$13$ per hour. Each unit of finished goods requires two direct labour$-$hours.

$g.$ The variable selling and administrative expense per unit sold is $$1\mathrm{.}80.$ The fixed selling and administrative expense per

month is $$62,000.$

What are the expected cash collections for July?

Total cash collections