Required information The Foundational 15 (Algo) [LO8-2, L08-3, LO8-4, LO8-5, L08-7, L08-9, LO8-10] [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 $55. Budgeted unit sales for June, July. August, and September are 9.000 , 21,000,23,000, and 24,000 units, respectively. All sales are on credit. b. Thirty percent of credit sales 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 sales. d. The ending raw materials inventory equals 20% of the following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The row materials cost $2.70 per pound. e. Twenty percent of raw moterials purchases are paid for in the month of purchase and 80% in the following month f. The direct labor woge rate is $14 per hour. Each unit of finished goods requires two direct labor-hours. 9. The variable selling and administrative expense per unit sold is $1.60. The fixed selling and odministrotive expense per month is $60.000 Foundational 8-7 (Algo) 7. In July whot are the total estimated cash disbursements for raw materials purchases? Assume the cost of raw material purchases in June is $194,400; and $116,500 pounds of raw materials are needed to meet production in August