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14. What is the estimated total selling and administrative expense for July? 24, 20...

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Accounting

image14. What is the estimated total selling and administrative expense for July?

24, 20 aconnect The Foundational 15 LO8-2 @ , LO8-3 @ , LO8-4 @ , LO8-5 @ , LO8-7 @ , LO8-9@ , LO8-10 @ Morganton Company makes one product and it provided the following information to help prepare the ma a. The budgeted selling price per unit is $70. Budgeted unit sales for June, July, August, and September are 8,400, 10,00, 12,00, and 13,0 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 ollowing month's raw materials production needs. Each unit shed goods requires 5 pounds of raw materials. The raw materials cost S2.00 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 S1.80. The fixed selling and administrative expense per month is $60,00

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