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 8.300, 14,000. 16,000 and 17000 units, espectively. 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 montti'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 row materials cost $200 per pound e. Forty percent of raw materials purchases are paid for in the month of purchase and 60% in the following month. The direct labor wage rate is $15 per hour. Each unit of finished goods requires two direct labor hours g. The variable selling and administrative expense per unit sold $1.50. The fixed selling and administrative expense per month is $64.000. 13. If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $6 per direct labor hout, 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 salos for June July August, and September are 8,300, 14,000, 16.000, and 17.000 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 c. The ending finished goods inventory equals 25% of the following months unit sales d. The ending raw materials inventory equals 10% of the following months raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The mw materials cost $2.00 per pound e. Forty percent of raw materials purchases are paid for in the month of purchase and 60% in the following month The direct labor wage rates $15 per hour Each unit of finished goods requires two direct lobor-hours G. The variable selling and administrative expense per unit sold is $150. The fixed selling and administrative expense per month is $64,000 14. What is the estimated total selling and administrative expense for July? Tooling and administrativo conses Required information The following formation 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 to June, Lily August, and September are 8.300 14.000, 16,000 and 17.000 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 c. The ending finished goods inventory equals 25% of the following months unt 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 $200 per pound e. Forty percent of raw materials purchases are paid for in the month of purchase and 60% in the following month The direct labor wage rate is $15 per hout Each unit of finished goods requires two direct labore a. The valable selling and administrative expense per unit sold is $150. The fixed selling and administrative expense per month is $64.000 15. If we assume that there no fixed manutacturing overhead and the variable manufacturing overhead is $6 per direct loborhout, what is the estimated net operating income for July? No come
