[The following information applies to the questions displayed below.) Morganton Company makes one product and it provide

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[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 $70. Budgeted unit sales for June July August, and September are 9,400. 25,000, 27000, and 28,000 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. Twenty percent of raw materials purchases are paid for in the month of purchase and 80% in the following month 1. The direct labor wage rate is $15 per hour. Each unit of finished goods requires two direct lobor-hours. 9. The variable selling and administrative expense per unit sold is $2.00. The fixed selling and administrative expense per month is $64.000 4 According to the production budget, how many units should be produced in July? Required production units
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 $70. Budgeted unit sales for June July August, and September are 9,400 25.000 27.000 and 28,000 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 Twenty percent of raw materiais purchases are paid for in the month of purchase and 80% in the following month f. The direct labor wage rate is $15 per hour Each unit of finished goods requires two direct labor-hours, The variable selling and administrative expense per unit sold is $2.00 The fixed selling and administrative expense per month is $64.000 7. In July what are the total estimated cash disbursements for row materials purchases? Assume the cost of raw material purchases in June is $138,080 and 108 800 pounds of raw materials are needed to meet production in August Total cash disbursements
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: o. The budgeted selling price per unit is 570 Budgeted unit seles for June July August, and September are 9,400, 25,000, 27000 and 28,000 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 Twenty percent of raw materials purchases are paid for in the month of purchase and 80% 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 $2.00 The fixed selling and administrative expense per month is $64,000 9. If 108,800 pounds of raw materials are needed to meet production in August, what is the estimated raw materials inventory balance at the end of July Raw material inventory balance
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 $70 Budgeted unit sales for June July August, and September are 8,400, 10,000, 12,000, and 13,000 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 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 5 pounds of raw materials. The raw materials cost $2.00 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 $60,000 7 In July what are the total estimated cash disbursements for raw materials purchases? Assume the cost of raw material purchases in June is $88.880 and 61.000 pounds of raw materials are needed to meet production in August Total cash disbursements
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 $70. Budgeted unit cales for June July August and September are 8,400 10,000 12,000 and 13.000 units, respectively. All sales are on credit b. Forty percent of credit sales are collected in the month of the sole and 60% in the following month c The ending finished goods inventory equals 20% of the following month's unit sales 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 row materials. The raw materials cost $2.00 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 g. The variable selling and administrative expense per unit sold is $180. The fixed selling and administrative expense per month is $60.000 9. If 61.000 pounds of raw materials are needed to meet production in August, what is the estimated raw materials inventory balance at the end of July Raw material inventory balance
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 $70. Budgeted unit sales for June July August, and September are 8.400, 10.000, 12,000, and 13.000 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 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 5 pounds of raw materials. The raw materials cost $2.00 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 $60,000 11. If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $10 per direct lobor-hour what is the estimated unit product cost? Unit product cost
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 $70 Budgeted unit sales for June July August, and September are 8,400. 10,000, 12,000, and 13.000 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 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 5 pounds of raw materials. The raw materials cost $2.00 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 $60,000 13. If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $10 per direct labor-hour what is the estimated cost of goods sold and gross margin for July? Estimated cost of goods sold Estimated gross margin