Required information [The following information applies to the questions displayed below]. Morganton Company makes one product and it provided the following information to help pregare the master budget: a. The budgeted selling price per unit is $70. Budgeted unit sales for June, July, August, and September are 8,500,16,000,18,000, and 19,000 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: Eoch unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.00 per pound. e. Thirty percent of raw materials purchases are poid for in the month of purchase and 70 in in the following f. The direct labor wage rate is $13 per hour. Each unit of finisthed goods requires two direct labor-hours. month 9. The variable selling and administrative expense per unit sold is $170. The fixed seling and administrative. expense per month is $66,000 9. If 91,000 pounds of raw materials are needed to meet production in August, What is the estimated row materiais iriventory balance at the end of July