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 17.000 units, respectively. All sales are on Credit 6. Forty percent of credit sales are collected in the month of the sole and 50% 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 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 $2.00 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 rate is $15 per hour Each unit of finished goods requires two direct labor hours. The variable selling and administrative expense per unit sold 5 $150. The fixed selling and administrative expense per month is $64,000 7. In July what are the total estimated cash disbursements for raw materials purchases? Assume the cost of raw material purchases in June is $102,025; and 81,250 pounds of raw materials are needed to meet production in August 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, 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 10% of the following month's row materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw 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 f The direct labor wage rate is $15 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 selling and administrative expense per month is $64,000 ces 8.16 81.250 pounds of raw materials are needed to meet production in August, what is the estimated accounts payable balance at the end of July Accounts payable 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 Augusti and September are 8,300 14,000, 16,000, and 17000 units, respectively. All sales are on credit b. Forly percent of credit sales are collected in the months of the sale and 50% in the following month, The ending finished goods inventory equals 25% of the following month's unit sales d. The ending raw materials inventory equals 10% of the following months row materials production needs. Each unit of finished goods requires 5 pounds of materials. The raw materials cost $200 por pound e. Forty percent of raw materials purchasesore paid for in the month of purchase and 60% in the following month * The direct labor wage rate is $15 per hour. Eachyunit of finished goods rettes two direct labor hours a. The variable selling and administrative expense per unit sold is $150. The food selling and administrative expense per month is $64,000 9.1 81.250 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 ventory balance
