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 $65. Budgeted unit soles for June, July, August, and September are 9,900 , 30,000,32,000, and 33,000 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 30% of the following month's unit sales. d. The ending raw materials inventory equals 20% of the following month's raw materials production needs. Each unit of finished goods requires 4 pounds of raw materials. The raw materials cost $250 per pound. e. Forty percent of raw materials purchases are paid for in the month of purchase and 60% in the following month. f. The direct labor wage rate is $12 per hour. Each unit of finished goods requires two direct labor-hours. 9. The variable selling and administrative expense per unit sold is $1.90. The fixed selling and administrative expense per month is $69,000 Required: 1. What are the budgeted sales 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 $65, Budgeted unit sales for June, July. August, and September are 9,900 , 30,000,32,000, and 33,000 units, respectively. All sales are on credit. b. Forty percent of credit sales are collected in the month of the sole and 60% in the following month. c. The ending finished goods inventory equals 30% of the following month's unit soles. d. The ending raw materials inventory equals 20% 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. Forty percent of raw materials purchases are paid for in the month of purchase and 60% in the following month f. The direct labor woge rate is $12 per hour. Each unit of finished goods requires two drect labor hours. 9 . The variable seling and administrotive expense per unit sold is $190. The foed gelling and administrative expense per month is $69,000 2. What are the expected cash collections 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 $65. Budgeted unit sales for June, July. August, and September are 9,900 , 30,000,32,000, and 33,000 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 30% of the following month's unit sales. d. The ending raw materials inventory equals 20% 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. Forty percent of raw materials purchases are poid for in the month of purchase and 60% in the following month. f. The direct labor wage rate is \$12 per hour. Each unit of tinished goods requires two direct labor-hours: 9. The variable selling and administrative expense per unit sold is $1.90. The fixed selling and administrative expense per month is $69,000. 3. What is the accounts receivable bolance at the end of 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 $65. Budgeted unit sales for June, July, August, and September are 9.900 . 30,000,32,000, and 33,000 units, respectively. All sales are on credit. b. Forty percent of credit sales are collected in the month of the sole and 60% in the following month. c. The ending finished goods inventory equals 30% of the following month's unit sales. d. The ending raw materials inventory equals 20% of the following month's raw materials production needs. Each unit of finished goods requires 4 pounds of raw materials. The row materials cost $2.50 per pound e. Forty percent of raw materials purchases are paid for in the month of purchase and 60% in the following month. f. The direct labor wage rate is $12 per hour. Each unit of finished goods requires two direct labor-hours. 9. The variable selling and odministrative expense per unit sold is $1.90. The fixed seling ond administrative expense per month is $69,000. 4. According to the production budget, how many units should be produced in July? Required informetion [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 $65. Budgeted unit sales for June, July, August, and September are 9,900 , 30,000,32,000, and 33,000 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 30% of the following month's unit sales. d. The ending raw materials inventory equals 20% of the following month's row materials production needs. Each unit of finished goods requires 4 pounds of raw materials. The raw materials cost $250 per pound. e. Forty percent of raw materials purchases are paid for in the month of purchase and 60% in the following month. f. The direct labor wage rate is $12 per hour. Each unit of finished goods requires two direct labor-hours. 9 . The variable selling and administrative expense per unit sold is $1.90. The fixed selling and administrative expense per month is $69,000. 5. If 129,200 pounds of row materials are needed to meet production in August, how many pounds of raw materials should be purchased in 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 $65. Budgeted unit sales for June, July, August, and September are 9,900 , 30,000,32,000, and 33,000 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 30% of the following month's unit sales. d. The ending raw materials inventory equals 20% of the following month's raw materials production needs. Each unit of finished goods requires 4 pounds of row materials. The raw materials cost$2.50 per pound. e. Forty percent of raw materials purchases are paid for in the month of purchase and 60% in the following month. f. The direct labor wage rate is $12 per hour. Each unit of finished goods requires two direct labor-hours. 9. The variable selling and administrative expense per unit sold is $1.90. The fixed selling and administrative expense per month is $69,000. 6. If 129,200 pounds of row materials are needed to meet production in August, whot is the estimated cost of raw materials purchases for July? Required informetion [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 $65. Budgeted unit soles for June. July. August, and September are 9,900 , 30,000,32,000, and 33,000 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 30% of the following month's unit sales. d. The ending raw materials inventory equals 20% 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. Forty percent of raw materials purchases are poid for in the month of purchose and 60% in the following month. f. The direct labor wage rate is $12 per hour. Each unit of finhed goods requires two direct labor-hours. 9. The variable selling and administrative expense per unit sold is $190. The fixed selling and administrative expense per month is $69,000 7. In July what are the total estimated cosh disbursements for raw moterials purchases? Assume the cost of raw material purchases in June is $188,640, and 129,200 pounds of raw materiols are needed to meet production in August. Required information The following information applies to the questions displayed below] Morganton Company makes one product ond it provided the following information to help prepare the master budget: a. The budgeted seling price per unit is $65, Budgeted unit sales for June, July, August, and September are 9,900 . 30,000,32,000, and 33,000 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 30% of the following month's unit sales. d. The ending row materials imventory equals 20% 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. Forty percent of raw materials purchases are paid for in the month of purchase and 60% in the following month. f. The direct labor wage rate is $12 per hour. Each unit of finished goods requires two direct labor-hours. 9. The variable selling and administrative expense per unit sold is $190. The fixed selling ond administrative expense per month is $69,000 8. If 129,200 pounds of raw materials are needed to meet production in August, what is the estimated accounts payable balance at the end of July? Required information [The following information applies to the questions displayed beiow] Morganton Company makes one product and it provided the following information to help prepare the moster budget. a. The budgeted seling price per unit is $65. Budgeted unit soles for June. July, August, and September are 9,900. 30,000,32,000, and 33,000 units, respectively. All sales ore on credit. b. Forty percent of credit sales are colected in tine month of the sale and 60% in the following month. c. The ending finished goods inventory equals 30% of the following month's unit sales. d. The ending raw moteriais inventory equals 20% of the following month's raw materials production needs Each unit of finished goods requires 4 pounds of row materials The raw moterials cost $250 per pound. e. Forty percent of raw meterials purchases are poid for in the month of purchase and 60% in the following month. f. The direct labor wage rote is $12 per hour. Each unit of finished goods requites two direct labor-hours: 9 The variable selling and administrative expense per unit sold is 5190 . The fixed selling and administrotive expense per month is $69,000. 9. If 129200 pounds of raw materials are needed to meet production in August, what is the ebtimated row matenials inventory balance ot the end of 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 $65. Budgeted unit sales for June. July. August, and September are 9,900. 30,000,32,000, and 33,000 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 30% of the following month's unit sales. d. The ending raw materials inventory equals 20% 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. Forty percent of raw materiais purchases are paid for in the month of purchose and 60% in the following month. f. The direct labor wage rate is $12 per hour. Each unit of finished goods tequires two direct labor-hours: g. The variable selling and administrative expense per unit sold is $190. The fixed selling and administrative expense per month is $69,000 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 $65. Budgeted unit sales for June, July, August, and September are 9.900 , 30,000,32,000, and 33,000 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 30% of the following month's unit sales. d. The ending raw materials inventory equals 20% of the following month's raw materials production needs. Each unit of finished goods requires 4 pounds of row materiais. The row moterials cost $2.50 per pound. e. Forty percent of raw materials purchases are paid for in the month of purchase and 60% in the following month. f. The direct labor wage rate is $12 per hour. Each unit of finished goods requires two direct labor-hours. 9 . The variable selling and administrative expense per unit sold is $190. The fixed selling and administrative expense per month is $69,000 11. If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $11 per direct labor-hour. what is the estimated unit product cost? (Round your answer to 2 decimal places.) Required informstion (The following information opplies 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 seling price per unit is 565 . Budgeted unit fales for June, July. August, ond September are 9.900. 30,000,32,000, and 33,000 units, respectively All tioles are on credit. b. Forty percent of credit sales are coliected in the month of the sale and 60% in the following month. c. The ending finished goods inventory equals 30% of the folowing month's unit soles. d. The ending raw materials inventory equals 20% of the following month's raw moterials producion needs. Each unit of finished goods requires 4 pounds of raw materiala. The row materials cost $2.50 per pound. e. Forty percent of raw materials purchases are paid for in the month of purchase and 60 s in the following month f. The direct labor wage rate is \$12 per hour. Each unit of finished goods requires two drect lobor-hours. 9. The variable selling and administrotive experise per unit sold is $1.90 The foed seling and administrative expense per month is $69.000 12. If we assume that there is no fuxed manufacturing overhead and the vorable manufacturing overhead is $11 per direct labor-hour, what is the estimated finished goods inveritory balance at the end of July? Required information [The following information applies to the questions displayed below] Morganton Compony makes one product and it provided the following information to help prepare the master budget: a. The budgeted selling price per unit is $65. Budgeted unt soles for June, July, August, and September ore 9,900 , 30,000,32,000, and 33,000 units, respectively All soles ore on credit. b. Forty percent of credit soles are colected in the month of the sale and 60% in the following month. c. The ending finished goods inventory equals 30% of the following month's unit sales. d. The ending raw moterials inventory equols 200 of the following month's row moterials production needs. Each unit of finished goods requires 4 pounds of raw matenals. The raw materials cost $2.50 pet pound e. Forty percent of row materiale purchoses ate poid for in the inonth of purchose and 60% in the following month t. The direct lobor wage rate is $12 per hour. Each ynit of finshed goode requires two direct labor hours? 9 The variable selling and administrative expense per unit sold yis $190. The foed selling and administrative expense per month is $69,000 13. If we assume that thete is no fuxed manufocturing ovemead ond the variable manufecturing overhead is $11 per direct labor-hour, what is the estimated cost of goods sold and gross margin for July? Required information [The following information applies to the questions displayed below.] Morganton Company makes one product and it provided the following informotion to help prepare the master budget: a. The budgeted selling price per unit is $65. Budgeted unit sales for June, July, August, and September are 9,900 , 30,000,32,000, and 33,000 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 finished goods inventory equals 30% of the following month's unit soles. d. The ending raw matetials inventory equals 20% of the following month's taw materials production needs. Each unit of finished goods requires 4 pounds of row moterials. The row materials cost $2.50 per pound. e. Forty percent of raw materials purchases are paid for in the month of purchase and 60% in the following month. f. The direct labor wage rate is $12 per hour. Each unit of finished goods requires two direct labor-hours. 9 . The variable selling and administrotive expense per unit sold is $1.90. The fixed seling and administrative expense per month is $69,000. 14. What is the estimated total selling and administrative expense for July? Required informstion [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 seling ptice per unit is $65, Budgeted unit sales for June, July. August, and September are 9,900, 30,000,32,000, and 33,000 units, respectively. Ali sales are on credit b. Forty percent of credit sales are collected in the month of the sale ond 60% in the following month. c. The ending finished goods inventory equals 30% of the following month's unit sales d. The ending raw materials inventory equals 20% of the following month's taw materials production needs. Each unit of finished goods requires 4 pounds of row materials. The raw moterials cost $250 per pound. e. Forty percent of raw materials purchases are paid for in the momth of purchase and 60 s in the following month. f. The direct labor wage rate is $12 per hour. Each unt of tinished goods tequires two direct labor-hours. 9 . The variable selling and administrotive expense per unit sold is $190. The fixed selling and administrative expense per month is $69,000 15. If we assume that there is no fixed manufacturing owerheod and the varioble manufocturing overheod is $11 per direct labor-hour, what is the estimated net operating income for July