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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 unlt sales for June July August, and September are 9,800, 29,000, 31,000, and 32,000 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 20% 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 4 pounds of raw materials. The raw materials cost $2.50 per pound e. Thirty percent of raw materials purchases are paid for in the month of purchase and 70% in the following month. f. The direct labor wage rate is $15 per hour. Each unit of finished goods requires two direct labor-hours. 9. The variable selling and administrative expense per unit sold is $180. The fixed selling and administrative expense per month is $68,000 2. What are the expected cash collections for July? Totat cash collections [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: br 15 a. The budgeted selling price per unit is $60. Budgeted unit sales for June July August, and September are 9,800. 29,000, 31000, and 32,000 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 20% 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 4 pounds of raw materials. The raw materials cost $2.50 per pound. e. Thirty percent of raw materials purchases are paid for in the month of purchase and 70% in the following month f The direct labor wage rate is $15 per hour Each unit of finished goods requires two direct labor-hours, g. The variable selling and administrative expense per unit sold is $1.80. The fixed selling and administrative expense per month is $68,000 Hook Terences 3. What is the accounts receivable balance at the end of July? Accounts receivable Part 4 of 15 Morganton Company makes one product and it provided the following information to help prepare the master budget: 0 points a. The budgeted selling price per unit is $60. Budgeted unit sales for June July August, and September are 9,800, 29,000, 31,000, and 32,000 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 20% 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 4 pounds of raw materials. The raw materials cost $2.50 per pound. e. Thirty percent of raw materials purchases are paid for in the month of purchase and 70% in the following month. 1. The direct labor wage rate is $15 per hour. Each unit of finished goods requires two direct labor-hours. 9. The variable seling and administrative expense per unit sold is $180. The fixed selling and administrative expense per month is $68,000 eBook Print bo References 4. According to the production budget, how many units should be produced in July? Required production unds Part 4 of 15 Morganton Company makes one product and it provided the following information to help prepare the master budget: 10 The budgeted selling price per unit is $60. Budgeted unit sales for June, July, August, and September are 9,800, 29,000, 31,000, and 32,000 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 20% 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 4 pounds of raw materials. The raw materials cost $2.50 per pound. e. Thirty percent of raw materials purchases are paid for in the month of purchase and 70% in the following month, 1. The direct labor wage rate is $15 per hour Each unit of finished goods requires two direct labor hours. 9. The varioble selling and administrative expense per unit sold is 51.80. The fixed selling and administrative expense per month is $68,000 Book o erences 4. According to the production budget, how many units should be produced in July Required production units 10 points a. The budgeted selling price per unit is $60. Budgeted unit sales for June July August, and September are 9,800, 29,000, 31,000, and 32,000 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 20% 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 4 pounds of raw materials. The raw materials cost $2,50 per pound, e Thirty percent of raw materials purchases are paid for in the month of purchase and 70% in the following month The direct labor wage rate is $15 per hour. Each unit of finished goods requires two direct labor-hours 9. The variable selling and administrative expense per unit sold is $180. The fixed selling and administrative expense per month 6 $68,000 OM References 5. 124,800 pounds of raw materials are needed to meet production in August, how many pounds of raw materials should be purchased in July? Row materials to be purchased pounds Part 6 Morganton Company makes one product and it provided the following information to help prepare the master budget 10 pot a. The budgeted selling price per unit is $60 Budgeted unit sales for June July August, and September are 9,800, 29,000, 31000, and 32,000 units, respectively. All sales are on credit b. Thirty percent of credit sales are collected in the month of the sole and 70% in the following month c. The ending finished goods Inventory equals 20% 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 4 pounds of raw materials. The raw materials cost $2.50 per pound e. Thirty percent of raw materials purchases are paid for in the month of purchase and 70% in the following month The direct labor wage rate is $15 per hour. Each unit of finished goods requires two direct labor hours 9 The variable seling and administrative expense per unit sold is 51.80. The fixed selling and administrative expense per month is $68,000 Pin fo 6. 124.800 pounds of raw materials are needed to meet production in August, what is the estimated cost of raw materials purchases for July Coat of water to be purchased 7015 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 9,800, 29.000, 31000, and 32.000 units, respectively. All sales are on credit, 6. 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 20% 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 4 pounds of raw materials. The raw materials cost $250 per pound. e. Thirty percent of raw materials purchases are paid for in the month of purchase and 70% in the following month, 1. The direct labor wage rate is $15 per hour. Each unit of finished goods requires two direct labor hours 9. The variable selling and administrative expense per unit sold is $1.80. The fixed selling and administrative expense per month is $68,000 Boch Print References 7. In July what are the total estimated cash disbursements for raw materials purchases? Assume the cost of raw material purchases in June Is $152.160, and $124.800 pounds of raw materials are needed to meet production in August Total cash disbursements Morganton Company makes one product and it provided the following information to help prepare the master budget Part B of 15 10 points a. The budgeted selling price per unit is $60. Budgeted unit sales for June July August, and September are 9,800, 29,000, 31000, and 32,000 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 20% 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 4 pounds of raw materials. The raw materials cost $2.50 per pound. e. Thirty percent of raw materials purchases are paid for in the month of purchase and 70% in the following month. The direct labor wage rate is $15 per hour. Each unit of finished goods requires two direct labor hours g. The variable seling and administrative expense per unit sold is $180. The fixed selling and administrative expense per month is $68,000 eBook Print References 8. 1 124 800 pounds of raw materials are needed to meet production in August, what is the estimated accounts payable balance at the end of July? Accounts payable