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Required information The following information applies to the questions displayed below.) 8 of 15 Morganton Company makes one

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Answer #1

Production in July (units) = July sales + 30% of August sales - 30% of July sales

= 30,000 + (32,000*30%) - (30,000*30%)

= 30,000 + 9,600 - 9,000

= 30,600

Raw material purchases in July (pounds) = July production requirements + 20% of August production needs - 20% of July production needs

= (30,600*4) + (129,200*20%) - (30,600*4*20%)

= 122,400 + 25,840 - 24,480

= 123,760

Accounts payable at the end of July = 123,760 pounds * $2.5 * 60%

= $185,640

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