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 The budgeted selling price per unit is $70 Budgeted unit sales for June, July, August, and September are 8,500, 16,000, 18,000, and 19,000 units, respectively All sales are on credit Forty percent of credit sales are collected in the month of the sale and 60 in the following month The ending finished goods inventory equals 20 of the following month's unit sales 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 Thirty percent of raw materials purchases are paid for in the month of purchase and 70 in the following month The direct labor wage rate is $13 per hour Each unit of finished goods requires two direct labor hours The variable selling and administrative expense per unit sold is $1 70 The fixed selling and administrative expense per month is $66,000 What is the accounts receivable balance at the end of July According to the production budget, how many units should be produced in July If 91,000 pounds of raw materials are needed to meet production in August, how many pounds of raw materials should be purchased in July If 91,000 pounds of raw materials are needed to meet production in August, what is the estimated cost of raw materials purchases for July In July what are the total estimated cash disbursements for raw materials purchases Assume the cost of raw material purchases in June is $106,400 If 91,000 pounds of raw materials are needed to meet production in August, what is the estimated accounts payable balance at the end of July If 91,000 pounds of raw materials are needed to meet production in August, what is the estimated raw materials inventory balance at the end of July What is the estimated total selling and administrative expense for July If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $8 per direct labor hour, what is the estimated net operating income for July

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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

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:

The budgeted selling price per unit is $70. Budgeted unit sales for June, July, August, and September are 8,500, 16,000, 18,000, and 19,000 units, respectively. All sales are on credit.
Forty percent of credit sales are collected in the month of the sale and 60% in the following month.
The ending finished goods inventory equals 20% of the following month's unit sales.
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.
Thirty percent of raw materials purchases are paid for in the month of purchase and 70% in the following month.
The direct labor wage rate is $13 per hour. Each unit of finished goods requires two direct labor-hours.
The variable selling and administrative expense per unit sold is $1.70. The fixed selling and administrative expense per month is $66,000.

What is the accounts receivable balance at the end of July?

According to the production budget, how many units should be produced in July?

If 91,000 pounds of raw materials are needed to meet production in August, how many pounds of raw materials should be purchased in July?

If 91,000 pounds of raw materials are needed to meet production in August, what is the estimated cost of raw materials purchases for July?

In July what are the total estimated cash disbursements for raw materials purchases? Assume the cost of raw material purchases in June is $106,400.

If 91,000 pounds of raw materials are needed to meet production in August, what is the estimated accounts payable balance at the end of July?

If 91,000 pounds of raw materials are needed to meet production in August, what is the estimated raw materials inventory balance at the end of July?

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

If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $8 per direct labor-hour, what is the estimated net operating income for July?