Required informetion [The following information applies to the questions displayed below] Morganton Company makes one product and provided the following information to help prepare its master budget: a. The budgeted selling price per unit is $60. Budgeted unit soles 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 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 materiols inventory equals 15% of the following month's raw materials production needs. Each unit of finished goods requires 4 pounds of raw materials. The raw materials cost $2.40 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 woge rate is $12 per hout Each unit of finished goods requires two direct labot-hours 9. The varioble selling and administrative expense per unit sold is $1.50. The fived selling and administrative expense per month is $65,000, 13. If we assume that there is no fowed manufacturing overheod and the variable manufocturing overhead is $8 per direct labor-hour, What are the estimated cost of goods cold and gross margin for July? Required information [The following information applies to the questions displayed below] Morganton Company makes one product and provided the following information to help prepare its master budget: a. The budgeted selling 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 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 15% of the following month's raw materials production needs. Each unit of finished goods requires 4 pounds of raw materials. The raw materials cost $2.40 per pound. e. Forty percent of row materiols purchases are paid for in the month of purchase and 60% in the following month 1. The direct labor wage rate is $12 per hout. Each unit of finished goods requires two direct labor-hours. 9 The variable seling and administrative expense per unit sold is $1.50, The fixed selling and administrative expense per month is $65,000. 14. What is the estimated total selling and odministrative expense for July? Required information [The following informetion applies to the questions displayed below] Morganton Company makes one product and provided the following information to help prepare its master budget a. The budgeted selling 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 sales ore 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 row materials inventory equals 15% of the following month's raw materiais production needs. Each unit of finished goods requires 4 pounds of raw materials. The raw materials cost $2.40 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 labor-hours. 9. The variable selling and administrative expense per unit sold is $1.50. The fixed selling and administrative expense per month is $65.000. If we assume that there is no foxed manufocturing overhead and the variable manufacturing overhead is $8 per direct lobor-hour, hot is the estimated net operating income for July