Required information [The following information applies to the questions displayed below] Morganton Company makes one product and provided the following information to help prepare its master budget: a. The budgeted selling price per unit is $60. Budgeted unit sales for June, July. August, and September are 9,500. 26,000,28,000, and 29,000 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 25% of the following month's unit sales. d. The ending row materials inventory equais 15% of the following month's raw materials production needs, Each unit of finished goods requires 4 pounds of raw materials. The raw materials cost $2.40 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 finished goods requires two direct labor-hours. g. The variable selling and administrative expense per unit sold is $1.50. The fixed selling and administrative expense per month is $65,000. 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 provided the following information to help prepare its master budget: a. The budgeted selling price per unit is $60. Budgeted unit soles for June, July, August, and September are 9.500 , 26,000,28,000, and 29,000 units, respectively. All sales are on credit. b. Forty percent of credit sales ore collected in the month of the sale and 60% in the following month. c. The ending finished goods inventory equals 25% of the following month's unit sales. d The ending raw materials inventory equals 15% of the following month's raw materials production needs. Each unit of finished goods requires 4 pounds of raw materials. The raw materials cost $2.40 per pound. e. Forty percent of raw materials purchases are poid for in the month of purchase and 602 in the following month. 1. 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 $1.50. The fixed selling and administrative expense per month is $65,000. 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 provided the following information to help prepare its master budget: a. The budgeted selling price per unit is $60. Budgeted unit sales for June, July. August, and September are 9,500 , 26,000,28,000, and 29,000 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 25% of the following month's unit sales. d. The ending raw materials inventory equals 15% of the following month's raw materials production needs. Each unit of finished goods requires 4 pounds of raw materials. The raw materials cost $240 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 $1.50. The fixed selling and administrative expense per month is $65,000. 3. What is the accounts receivable balance at the end of July? Required information The following information opplies to the questions displayed below] Morganton Company makes one product and provided the following information to help prepare its master budget: a. The budgeted selling price per unit is $60. Budgeted unit sales for June, July, August, and September are 9,500 , 26,000,28,000, and 29,000 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 mionth. c. The ending finished goods inventory equals 25% of the following month's unit sales. d. The ending raw materials inventory equals 15% of the following month's raw materials production needs. Each unit of finished goods requires 4 pounds of raw materials. The raw materials cost $2.40 per pound: e. Forty percent of raw moterials 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 finished goods requires two direct labor-hours. g. The variable seling and administrative expense per unit sold is $150. The fixed selling and administrative expense per month is $65,000. 4. Whot is the entimated production in unas for July