Required information [The following information applies to the questions displayod below] Morganton Company makes one product and provided the following information to help prepare its master budget: a. The budgeted seling 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. c. 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 production 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 paid for in the month of purchase and 60% in the follewing month t. 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 $1.50. The fixed seling ond administrative expense per month is $65.000. 6. If 113,000 pounds of raw materials are needed to meet production in August, what is the estimated cost of raw materials purchiases for July? Required information [The following information applies to the questions displayed below.] Morganton Company makes one product and provided the following information to help prepare its 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. c. 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 production 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 paid for in the month of purchase and 60% in the following month. f. The direct labor wage rate is $12 per hour. Each unit of finished goods requires two direct labor-hours. g. The variable selling and administrative expense per unit sold is $1,50. The fixed selling and administrative expense per month is $65,000. 7. In July what are the total estimated cash disbursements for raw materials purchases? Assume the cost of raw material purchases in June is $149,340; and $113,000 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 provided the following information to help prepare its 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. c. 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 production 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 materiels purchases are paid for in the month of purchase and 60% in the following month. t. The direct labor wage rate is $12 per hour. Each unit of finished goods requires two direct labor-hours. g. The variable selling and administrative expense per unit sold is $1.50. The fxed selling and administrative expense per month is $65,000. If 113,000 pounds of raw materials are needed to meet production in August, what is the estimated accounts payable balance at the end of July