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

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Accounts payable 185640
Workings:
Budgeted sales for July 30000
Add: Desired ending inventory 9600 =32000*30%
Less: Beginning inventory -9000 =30000*30%
Budgeted production 30600
Budgeted production 30600
X Pounds per unit 4
Materials required for production 122400
Add: Desired ending inventory 25840 =129200*20%
Less: Beginning inventory -24480 =122400*20%
Budgeted purchases in pounds 123760
X Cost per pound 2.50
Budgeted raw materials purchases 309400
Budgeted raw materials purchases 309400
X Percentage unpaid 60%
Accounts payable 185640
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