2.

The previous 3 answers were provided by 3 different chegg experts but they all are wrong. Please provide the right answer with the corresponding explanation. No more data is provided.

Required Information [The following information applles 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 9,800 , 29,000,31,000, and 32,000 units, respectlvely. 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 materlals inventory equals 10% of the following month's raw materials production needs. Each unit of finished goods requires 4 kilograms of raw materlals. The raw materlals 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 $15 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 $68,000. 15. What is the estimated operating income for July? Answer is complete but not entirely correct. Operating income 15. What Is the estimated operating income for July? Answer is complete but not entirely correct. Answer is complete but not entirely correct