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 1. 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 $1.50. The fixed selling and administrativo expense per month is $70,000 5. 111.000 pounds of raw materials are needed to meet production in August, how many pounds of raw materials should be purchased in July? Row materials to be purchased pounds 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 1. The direct labor wage rate is $13 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 $70,000 6,1 11,000 pounds of raw materials are needed to meet production in August, what is the estimated cost of raw materials purchases for July? Cost of raw material to be purchased 0 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 0. The budgeted selling price per unit is $60. Budgeted unlt 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. 1. The direct labor wage rate is $13 per hour. Each unit of finished goods requires two direct labor-hours. g. The variable selling and administrative expense per unit sold is $150. The fixed selling and administrative expense per month is $70,000 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 Total cash disbursements 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 ore 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 sole and 60% in the following month 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 . 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 $1.50. The fixed selling and administrative expense per month is $70,000 8.1 71.000 pounds of raw materials are needed to meet production in August, what is the estimated accounts payable balance at the end of July? Nccounts payable O 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 $250 per pound e. Thity percent of raw materials purchases are paid for in the month of purchase and 70% in the following month 1. 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 por unit sold is $1.50. The fixed selling and administrative expense per month is $70,000 9. If 111,000 pounds of raw materials are needed to meet production in August, what is the estimated raw materials inventory balance at the end of July? Raw material inventory bintance O 5 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, ond 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 materiais 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 purchoso ond 70% in the following month. 1. The direct labor wage rate is $13 per hour. Each unit of finished goods requires two direct labor hours. g. The variable selling and administrative oxpense per unit sold is $1.50. The fixed selling and administrative expenso per month is $70,000 10. What is the total estimated direct labor cost for July? Total direct labor con O 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 $250 per pound. Thirty percent of raw materiale 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. 9. The variable selling and administrative expense per unit sold is $1,50. The fixed selling and administrative expense per month is $70,000 11. If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is 57 per direct labor-hout What is the estimated unit product cost? (Round your answer to 2 decimal places.) Unit producto 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 solos 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 pold for in the month of purchase and 70% in the following month 1. 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 $1.50. The fixed selling and administrative expense per month is $70,000 12. It we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is 57 per direct labor-hour, What is the estimated finished goods Inventory balance at the end of July? Ending Einhud goods viventory 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, ond 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 1. The direct labor wage rate is $13 per hour. Each unit of finished goods requires two direct labor hours o The variable selling and administrative expense per unit sold is $150 The fixed selling and administrative expense per month is $70,000 13. If we onsume that there is no fixed manufacturing overhead and the variable manufacturing overhead is 57 per direct latior hour what is the estimated cost of goods sold and gross margin for July? Estimated cost of goods sold Estimated gross margin 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 $1.50. The fixed selling and administrative expense per month is $70,000 14. What is the estimated total selling and administrative expense for July? Total selling and administrative expenses 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 1. 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 fived selling and administrative expense per month is $70,000 15.1t we assume that there is no fixed monufacturing overhead and the variable manufacturing overhead is 57 per direct labor hour what is the estimated net operating income for July? Netopowing income