Saved Help Save&Exit Submit Check my work 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 $60. Budgeted unit sales for June, July, August, and September are 8,000, 11,000, 13,000, and 14,000 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. 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 m onth's raw m aterials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw e. Twenty percent of raw materials purchases are paid for in the month of purchase and 80% f. The direct labor wage rate is $12 per hour. Each unit of finished goods requires two direct g. The variable selling and administrative expense per unit sold is $1.20. The fixed selling and materials cost $2.20 per pound. in the following month. labor-hours. administrative expense per month is $61,000. df A receipt activity....pdf activitv docy Saved Help Save & ExitSubmit Check my work e. Twenty percent of raw materials purchases are paid for in the mon f purchase and 80% f. The direct labor wage rate is $12 per hour. Each unit of finished goods requires two direct g. The variable selling and administrative expense per unit sold is $1.20. The fixed selling and in the following month. labor-hours administrative expense per month is $61,000. 15. If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $7 per direct labor-hour, what is the estimated net operating income for July? Prev. 26 of 26 Next > ui....pdf A receint actyde