Check 5 Part 1 of 3 5 points Skipped eBook Print Required information [The following information applies to the questions displayed below.] Morganton Company makes one product, and has provided the following information to help prepare the master budget for its first four months of operations: a. The budgeted selling price per unit is $60. Budgeted unit sales for June, July, August, and September are 9,200, 23,000, 25,000, and 26,000 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 kilograms of raw materials. The raw materials cost $2.50 per kilogram. e. Thirty percent of raw materials purchases are paid for in the month of purchase and 70% in the following month. f. The direct labour wage rate is $13 per hour. Each unit of finished goods requires two direct labour-hours. g. The variable selling and administrative expense per unit sold is $1.80. The fixed selling and administrative expense per month is $62,000. D References Required: 1. What are the budgeted sales for July? Budgeted sales
Check 5 Part 1 of 3 5 points Skipped eBook Print Required information [The following information applies to the questions displayed below.] Morganton Company makes one product, and has provided the following information to help prepare the master budget for its first four months of operations: a. The budgeted selling price per unit is $60. Budgeted unit sales for June, July, August, and September are 9,200, 23,000, 25,000, and 26,000 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 kilograms of raw materials. The raw materials cost $2.50 per kilogram. e. Thirty percent of raw materials purchases are paid for in the month of purchase and 70% in the following month. f. The direct labour wage rate is $13 per hour. Each unit of finished goods requires two direct labour-hours. g. The variable selling and administrative expense per unit sold is $1.80. The fixed selling and administrative expense per month is $62,000. D References Required: 1. What are the budgeted sales for July? Budgeted sales
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working
![Check
5
Part 1 of 3
5
points
Skipped
eBook
Print
Required information
[The following information applies to the questions displayed below.]
Morganton Company makes one product, and has provided the following information to help prepare the master budget
for its first four months of operations:
a. The budgeted selling price per unit is $60. Budgeted unit sales for June, July, August, and September are 9,200,
23,000, 25,000, and 26,000 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 kilograms of raw materials. The raw materials cost $2.50 per kilogram.
e. Thirty percent of raw materials purchases are paid for in the month of purchase and 70% in the following month.
f. The direct labour wage rate is $13 per hour. Each unit of finished goods requires two direct labour-hours.
g. The variable selling and administrative expense per unit sold is $1.80. The fixed selling and administrative expense per
month is $62,000.
D
References
Required:
1. What are the budgeted sales for July?
Budgeted sales](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F80944d97-6a71-447e-bea3-84283d119f52%2F77ff1c7b-da81-4963-8d3d-99101766032a%2Fpl2hoz_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Check
5
Part 1 of 3
5
points
Skipped
eBook
Print
Required information
[The following information applies to the questions displayed below.]
Morganton Company makes one product, and has provided the following information to help prepare the master budget
for its first four months of operations:
a. The budgeted selling price per unit is $60. Budgeted unit sales for June, July, August, and September are 9,200,
23,000, 25,000, and 26,000 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 kilograms of raw materials. The raw materials cost $2.50 per kilogram.
e. Thirty percent of raw materials purchases are paid for in the month of purchase and 70% in the following month.
f. The direct labour wage rate is $13 per hour. Each unit of finished goods requires two direct labour-hours.
g. The variable selling and administrative expense per unit sold is $1.80. The fixed selling and administrative expense per
month is $62,000.
D
References
Required:
1. What are the budgeted sales for July?
Budgeted sales
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