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Part 11 of 15 Required information (The following information applies to the questions displayed below) Morganton Company makes one product and it provided the fotlowing information to help prepare the master budget: elloch Print 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 1. The direct labor wage rate is $15 per hour. Each unit of finished goods requires two direct lobor-hours 9. The variable seling and administrative expense per unit sold is $2.00. The fixed selling and administrative expenso per month is 564,000 11. If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $10 per direct tobor hour What is the estimated unit product cost? (Round your answer to 2 decimal places) Unit productos 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 materials purchases are paid for in the month of purchase and 80% in the following month t. 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. 12. 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 finished goods inventory balance at the end of July? Ending finished goods inventory 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, 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 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. 13. If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $10 per direkt labor-hour what is the estimated cost of goods sold and gross margin for July? Estimated cost of goods sold Estimated gross margin

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