Morganton Company makes one product and it provided the following information to help prepare the master budget:
What are the expected cash collections for July?
What is the accounts receivable balance at the end of July?
In July what are the total estimated cash disbursements for raw materials purchases? Assume the cost of raw material purchases in June is $106,400; and 91,000 pounds of raw materials are needed to meet production in August.
If 91,000 pounds of raw materials are needed to meet production in August, what is the estimated accounts payable balance at the end of July?
If 91,000 pounds of raw materials are needed to meet production in August, what is the estimated raw materials inventory balance at the end of July?
What is the total estimated direct labor cost for July assuming the direct labor workforce is adjusted to match the hours required to produce the forecasted number of units produced?
If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $8 per direct labor-hour, what is the estimated unit product cost? (Round your answer to 2 decimal places.)
If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $8 per direct labor-hour, what is the estimated finished goods inventory balance at the end of July?
If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $8 per direct labor-hour, what is the estimated cost of goods sold and gross margin for July?
What is the estimated total selling and administrative expense for July?
If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $8 per direct labor-hour, what is the estimated net operating income for July?
1) Expected cash collection in July = (16000*70*40%+8500*70*60%) = 805000
2) Account receivable = 16000*70*60% = 672000
3) July Production = 16000+18000*20%-16000*20% = 16400 Units
July Purchase = (16400*5)+(91000*10%)-(16400*5*10%) = 82900*2 = 165800
Cash disbursement on July = 106400*70%+165800*30% = 124220
4) Account payable = 165800*70% = 116060
Note: Please post whole question in the group of 4-4 sub parts as per HOMEWORKLIB RULES
Morganton Company makes one product and it provided the following information to help prepare the master...
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 $65. Budgeted unit sales for June, July, August and Septmeber are 8,400, 15,000, 17,000 and 18,000 units, respectively. All sales are on credit. B) 30% of credit sales are collected in the month of the sale and 70% in the following month. C) The ending finished goods inventory equals 30% of the following month’s unit...
Morganton Company makes one product and it provided the following information to help prepare the master budget: The budgeted selling price per unit is $70. Budgeted unit sales for June, July, August, and September are 8,400, 10,000, 12,000, and 13,000 units, respectively. All sales are on credit. Forty percent of credit sales are collected in the month of the sale and 60% in the following month. The ending finished goods inventory equals 20% of the following month’s unit sales. The...
Morganton Company makes one product and it provided the following information to help prepare the master budget: The budgeted selling price per unit is $70. Budgeted unit sales for June, July, August, and September are 8,500, 16,000, 18,000, and 19,000 units, respectively. All sales are on credit. Forty percent of credit sales are collected in the month of the sale and 60% in the following month. The ending finished goods inventory equals 20% of the following month’s unit sales. The...
[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:The budgeted selling price per unit is $70. Budgeted unit sales for June, July, August, and September are 8,800, 19,000, 21,000, and 22,000 units, respectively. All sales are on credit.Thirty percent of credit sales are collected in the month of the sale and 70% in the following month.The ending finished goods inventory equals 20% of the...
Morganton Company makes one product and it provided the following information to help prepare the master budget: The budgeted selling price per unit is $70. Budgeted unit sales for June, July, August, and September are 9,100, 22,000, 24,000, and 25,000 units, respectively. All sales are on credit. Forty percent of credit sales are collected in the month of the sale and 60% in the following month. The ending finished goods inventory equals 20% of the following month’s unit sales. The...
Morgatnon Company makes one product and it provided the following information to help prepare the master budget: A. The budgeted selling price per unit is $60. Budgeted unit sales for June, July, August, and September are 8,600, 17,000, 19,000, and 20,000 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 good inventory equals 25% of the following month's...
CH8PT.EC 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 $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...
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 9.100. 22,000, 24,000, and 25,000 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 20% of the following month's unit sales. d. The...
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 $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...
Morganton Company makes one product and it provided the following information to help prepare the master budget:The budgeted selling price per unit is $70. Budgeted unit sales for June, July, August, and September are 8,400, 10,000, 12,000, and 13,000 units, respectively. All sales are on credit.Forty percent of credit sales are collected in the month of the sale and 60% in the following month.The ending finished goods inventory equals 20% of the following month’s unit sales.The ending raw materials inventory...