Required information The Foundational 15 (Algo) [LO8-2, LO8-3, LO8-4, LO8-5, LO8-7, LO8-9, LOB-10] [The following information applies to the questions displayed below] Morganton Company makes one product and it provided the following informotion to help prepare the master budget: a. The budgeted selling price per unit is $60. Budgeted unit sales for June. July, August, and September are 8,300 , 14.000,16,000, and 17,000 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 10% of the following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.00 per pound. e. Forty percent of raw materials purchases are paid for in the month of purchase and 60% in the following month. t. The direct labor wage rate is $15 per hour. Each unit of finished goods requires two direct labor-hours. a. The variable selling and administrative expense per unit sold is $1.50. The fixed selling ond administrative expense per month is $64,000 Foundational 87(Alg0) 7. In July what are the total estimated cash disbursements for raw materials purchases? Assume the cost of raw material purchases in June is $102,025; and $81,250 pounds of raw materials are needed to meet production in August