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 9,500. 26,000, 28,000, and 29,000 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. The ending finished goods inventory equals 25% of the following month's unit sales, d. The ending raw materials inventory equals 15% of the following month's raw materials producton needs. Each unit of finished goods requires 4 pounds of raw materials. The raw materials cost $2 40 per pound. e. Forty percent of raw materials purchases are pald for in the month of purchase and 60% In the following month. 1. The direct labor wage rate is $12 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 $65,000 5. If 113,000 pounds of raw materials are needed to meet production in August, how many pounds of raw materials should be purchased in July 8 Answer is complete but not entirely correct. Raw materials to be purchased 108,157 pounds