Required information The following information applins to the questions disployed 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 soles are collected in the month of the sole and 60% in the following month. c. The ending finished goods inventory equais 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 matefials. The raw matetials cost $2.40 per pound. e. Forty percent of row materials purchases are paid for in the month of purchese ond 60% in the following month. t. The direct iabor 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 and administrative expense per month is $65,000. 2. What are the expected cash collections for July