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 9,800, 29,0 00, 31,000, and 32,000 units, respectively. All sales are on credit. b. Thirty percent of credit sales are collected in the month of the sale and 70% in the following month. C. The ending finished goods inventory equals 20% of the following month's unit sales. d. The ending raw materias inventory equals 10% of the following month's raw materials production needs. Each s requires 4 pounds of raw materials. The raw materials cost $2.50 per pound e. Thirty percent of raw materials purchases are paid or in hemonth of purchase and 70% in the folowing month. e direct labor wage rate is $15 per hour. Each unit of finished goods requires two direct labor-hours. er month is $68,000 g. The variable selling and administrative expense per unit sold is $1.80. The fixed selling and administrative expense p 5. If 124,800 pounds of raw materials are needed to meet production in August, how many pounds of raw materials should be purchased in July? materials to be purchased ounds