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 $60. Budgeted unit sales for June July August, and September are 8,900, 20,000, 22,000, and 23.000 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 $2.50 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 $13 per hour. Each unit of finished goods requires two direct labor-hours. 9. The variable selling and administrative expense per unit sold is $150. The fixed elling and administrative expense per month is $70,000 2. What are the expected cash collections for July? Total cash collections 3. What is the accounts receivable balance at the end of July? Accounts rootivate 4 According to the chance, how many sould be produced www. .000 pounds of raw materials are needed to meet production in August, what is the estimated cost of row rateriais parche 7. My were treated more to water purchases ne te com material com unele cando pounds of somers are needed to meet production 000 pounds of raw materials are needed to meet production in August, what is the accompatible end of 2. 1.000 units of a motoru need to meet production in August what is the estimated raw material story at the end of 10. What is the total estimated direct labor cost for July? Total direct labor cont Wwwmune that there are two montactgeted and the covered per director how what eine der Round your answer to 2 deciw places 3. What is the accounts receivable balance at the end of July? Account tocavable 4. According to the production budget, how many units should be produced in July? Required production units 6. 111,000 pounds of raw materials are needed to meet production in August, what is the estimated cost of raw materials purchases for July Cost of town to be purchased 5.000 pounds of raw materials are needed to meet production in August, how many pounds of raw materials should be purchased in July? Hawas to be used punos 7. In July what are the total estimated cash disbursements for raw materials purchases? Assume the cost of raw material purchases in June is $150,600, and $111.000 pounds of raw materials are needed to meet production in August Talcamera
