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Required information [The following information applies to the questions displayed below] Morganton Company makes one...

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Accounting

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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 budgeteqd selling price per unit is $70. Budgeted unit sales for June, July, August, and September are 8,200 , 13,000,15,000, and 16,000 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 5 pounds of raw materials. The raw materials cost $2.50 per pound. e. Thirty percent of raw materials purchases are paid for in the month of purchase and 70% in the following month. . The direct labor wage rate is $14 per hour. Each unit of finished goods requires two direct labor-hours. g. The variable selling and administrative expense per unit sold is $1.40. The fixed selling and administrative expense per month is $63,000

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