Required information [The fonlowing information opplies to the questions alsplayed beiow] Morganton Company mokes one product and it provided the following information to help prepare the moster budget a. The budgeted selling price per unit is $65. Budgeted unit sales for June, July, August ond September are 9000 . 2100023.000 , and 24.000 units, cespectively. All sales ore on credit b. Thity percent of credit soles are collected in the month of the sale and 70% in the following month c. The ending finished poods inventory equals 30% of the following month's unit seles d. The ending raw materials imventory equals 20% of the following monts row motesials production needs Each unit of inished goods tequires 5 pounds of row materiols. The raw materiais cost 52.70 per pound e. Twenty percent of row moterials purchases ere poid for ht the month of purchase ond 80% in the following mornh 1. The direct labor woge rate is $14 per hour. Eoch unt of finished goods requires two dikect labor-hours: o. The voriable seling and administrot/ve expense per trit soid 6$160 The fixed selling ond sdministrative expense per menth is $0,000 4. According to the production budget how mony units should be produced in July? Required information [The following information spplies to the questions aispiayed below] Morgonton Company makes one product and it provided the following information to help prepare the master budget a. The budgeted selling price per unit is $65. Budgeted unit sales for June, July. August and September are 9,000 , 21,00023,000 and 24,000 units, respectively, All sales orte on credit. b. Thirty percent of credit soles are colected in the month of the sole and 70% in the following month. c. The ending finished goods inventory equals 30% of the following month's unit soles d. The ending row materials inventory equals 20% of the following month's raw moterials production needs Each unit of finished goods requires 5 pounds of row materials. The raw moterials cost $2.70 per pound e. Twenty percent of row moterials purchoses ore paid for in the month of purchase ond 80% in the following month f. The direct labor woge rate is $14 per hour. Each unit of finished goods requires two direct loborihours. 9. The voriable selling and odministrotive expense per unit sold is 5160 . The fixed selling and administrotive expense per month is $60.000 5. If 116,500 pounds of raw motensls ore needed to meet production in Aupust how many pounds of fow moterials should be purchosed in July? Morganton Company mokes one product and it provided the following information to help prepare the master budget: a. The budgeted seling price per unit is $65. Budgeted unit sales for June, July. August, and September are 9,000. 21,000,23,000 and 24,000 units, respectively. All sales ore on credit b. Thirty percent of credit soles are collected in the month of the sale and 70% in the following month. c. The ending finished goods inventory equals 30% of the following month's unit soles. d. The ending raw materials inventory equals 20% of the following month's raw moterials production needs. Eoch unit of finished goods requires 5 pounds of row materials. The raw materials cost $270 per pound. e. Twenty percent of raw moterials purchases are poid for in the month of purchase and 80% in the following month. f. The direct labor woge rote is $14 per hour. Eoch unit of finished goods requires two direct labor-hours. 9. The variable selling and odministrative expense per unit sold is $1.60. The fixed selling ond odministrative expense per month is $60,000 6. If 116,500 pounds of raw moterials are needed to meet production in August. what is the estimated cost of row materials purchases for July
