Required information [The following informotion 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 unt is $70. Budgeted unit sales for June, July, August and September ace 9000. 22,000,24,000, and 25,000 units, respoctively. All sales are on credit. b. Forty percent of credit sales are collected in the month of the sale and 60% in the following mocth. I. The ending finished goods invertory equals 20% of the following month's uht sales. d. The ending raw materlals inventory equals 10%, of the following monthis raw materiais production needs. Each unt of finished goods requires 4 pounds of raw materials. The raw materials cost $2.50 per pound. e. Forty percent of raw materials purchases are paid for in the month of purchase and 60s in the following month. t. The direct iabor wage rate is $12 per hout. Each unit of finished goods requires two direct laborthous. 9 The variable selling and administrative expense per unit sold is 5170 . The fred selling and administrative erpense per month is $61,000. 12. If we assume that there is no fixed manufocturing ovethead and the variable manufacturing overhead is $12 per oxect labor-houk, what is the estimeted finished goods inventory balance at the end of July? 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 $70. Budgeted uni sales for June, July. August, and Soptember are 9,100. 22,000,24,000, and 25,000 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 manth. 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 monthis raw moterials production needs. Each unit of finished goods requires 4 pounds of raw materials. The raw materlals cost $2.50 per pound. e. Forty percent of raw materials purchases are poid for in the month of purchase and 60% in the following month t. The direct labor wage rate is $12 per houe. Each unit of finishod goods requires two direct labor hours. 9. The variable selling and administrative expense per unit sold is $1.70. The fired seling and administrative expense per month is 561000 1 if we assume that there is no fixed manufacturing overhead and the variable manufacturing overhesd is $12 per direct labor haut. hat is the estimated cost of goods sold and gross margin for July? Required information [The following intormation 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 $70. Budgeted unit sales for June, July. August, and September are 9300. 22,000,24,000, and 25,000 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. Each unit of finished goods requires 4 pounds of raw materials. The raw materials cost $2.50 per pound. e. Forty percent of raw materials purchases are paid for in the month of purchase and 60K in the following month. f. The direct labor wage rate is $12 per hour. Each unit of finished goods requires two direct labor-hours 9. The variable seling and administrative expense per unit sold is $170. The fixed selling and administrative expense per month is $61000. 14. What is the estimated total selling and administrative expense for July? Recuired information [The following information applles to the ouestions 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 $70. Budgeted unit sales for June, July, August and September are 9,100 , 22.000,24.000, and 25,000 units, respectively All sales are on credit b. Forty percent of credit sales are collected in the month of the sale and 60w in the following month. I c. The ending finished goods inventory equals 20% of the foliowing month's unit sales. d. The ending raw materials inventory equals 10% of the following month's raw materials production needs. Each unit of finished goods requires 4 pounds of raw materials. The raw materials cost $2.50 per pound. e. Forty percent of raw materials purchases are pald for in the month of purchase and 605 in the following monith. 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 \$170. The fixed selling and administrative expense per month is $61,000. 15. If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $12 per direct laborkiour; What is the estimated net operating income for July? Required information [The following information applies to the questions clisplayed below] Morganton Company makes one product and it provided the following information to help prepare the master budget: a. The budgeted selling price per unt is $70. Budgeted unit sales for June, July. August and September are 9,100 , 22,000,24,000, and 25,000 units, respectively. All sales are on credit. b. Forty percent of credit sales are collected in the month of the sale and 6005 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. Each unit of finished goods requires 4 pounds of raw materials. The raw materials cost $2.50 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 laborihours. 9. The variable selling and administrative expense per unit sold is $1.70. The fixed selling and administrative expense per month is $61,000. 7. In July what are the total estimated cash disbursements for raw materlals purchases? Assume the cost of raw material purchases in June is $127,520, and $96,800 pounds of raw materials are needed to meet production in August