13 O 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 Part 13 of 15 1 points eBook a. The budgeted selling price per unit is $60. Budgeted unit sales for June July August, and September are 8,300, 14,000. 16,000, and 17.000 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 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. Forty percent of raw materials purchases are paid for in the month of purchase and 60% 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 $1.50. The fixed selling and administrative expense per month is $64,000 Print References 13. If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $6 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 14 O Part 14 of 15 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: 1 points eBook Print a. The budgeted selling price per unit is $60, Budgeted unit sales for June July August, and September are 8,300, 14,000, 16,000, and 17.000 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 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. Forty percent of raw materials purchases are paid for to the month of purchase and 60% 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 $1.50. The fixed selling and administrative expense per month is $64,000 References 11. What is the estimated total selling and administrative expense for July? Total selling and administrative expenses 15 Part 15 of 15 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; 1 points Book a. The budgeted selling price per unit is $60. Budgeted unit sales for June, July, August, and September are 8,300, 14,000, 16,000, and 17,000 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 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. 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 $15 per hour. Each unit of finished goods requires two direct labor-hours. 9. The variable selling and administrative expense per unit sold is $150. The fixed selling and administrative expense per month is $64.000 References 15. If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $6 per direct labor-hour, what is the estimated net operating income for July? Net operating income