xam 3 Notes - Google Docs McGraw-Hill Connect Quest 12 - CH00 - Foundational O's - NO POINTS - CHO8 - Foundational Q's - NO POINTS Saved Help Save & Exit Submit Check my work 12 [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 Part 12 of 15 Book a. The budgeted selling price per unit is $65. Budgeted unit sales for June July August, and September are 9.900, 30,000, 32,000, and 33,000 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 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 4 pounds of raw materials. The raw materials cost $2.50 per pound e Forty percent of raw materials purchases are paid for in the month of purchase and 60% in the following month 1 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 51.90. The fixed selling and administrative expense per month is $69,000 12. we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $11 per direct labor hour, what is the estimated finished goods inventory balance at the end of July! Enara finished goods mentory xam 3 Notes - Google Docs McGraw-Hill Connect Quest 12 - CH00 - Foundational O's - NO POINTS - CHO8 - Foundational Q's - NO POINTS Saved Help Save & Exit Submit Check my work 12 [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 Part 12 of 15 Book a. The budgeted selling price per unit is $65. Budgeted unit sales for June July August, and September are 9.900, 30,000, 32,000, and 33,000 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 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 4 pounds of raw materials. The raw materials cost $2.50 per pound e Forty percent of raw materials purchases are paid for in the month of purchase and 60% in the following month 1 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 51.90. The fixed selling and administrative expense per month is $69,000 12. we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $11 per direct labor hour, what is the estimated finished goods inventory balance at the end of July! Enara finished goods mentory
