Required information [The following information applies to the questions displayed below] Morganton Company makes one product and it provided the following informaton to help prepare the master budget: a. The budgeted selling price per unit is $70. Budgeted unit sales for Junt, July, August, and September are 8,500,16,000,18,000, and 19,000 unts, respectively. All sales are on credit. b. Forty percent of credit sales are coliected in the month of the sale and 60% in the foliowing 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 row materials. The raw materials cost $2.00 per pound e. Thirty percent of row 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 hout, Each unit of finished goods requires two direct labor-hours 9. The variable selling and administrative expense per unit sold is $170. The flxed seling and administrative expense per month is $66,000. 2. What are the expected cash collections for July