Required information

The Foundational $15($Algo$)[$LO$8-2,$ L$08-3,$ LO$8-4,$ LO$8-5,$ LO$8-7,$ LO$8-9,$ LO$8-10]$

$[$The following information applies to the questions displayed below.$]$

Morganton Company makes one product and provided the following information to help prepare its master budget:

a$.$ The budgeted selling price per unit is $$65.$ Budgeted unit sales for June, July, August, and September are $9,600,$

$27,000,29,000,$ and $30,000$ 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 $30\%$ of the following month's unit sales.

d$.$ The ending raw materials inventory equals $20\%$ of the following month's raw materials production needs. Each unit

of finished goods requires $4$ pounds of raw materials. The raw materials cost $$2\mathrm{.}50$ per pound.

e$.$ Twenty five percent of raw materials purchases are paid for in the month of purchase and $75\%$ in the following

month.

f$.$ The direct labor wage rate is $$13$ per hour. Each unit of finished goods requires two direct labor$-$hours.

g$.$ The variable selling and administrative expense per unit sold is $$1\mathrm{.}60.$ The fixed selling and administrative expense

per month is $$66,000.$

Foundational $8-11($Algo$)$

If we assume there is no fixed manufacturing overhead and the variable manufacturing overhead is $$9$ per direct labor$-$hour, what is

the estimated unit product cost?

Note: Round your answer to $2$ decimal places.

If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $$9$ per direct labor$-$hour,

what is the estimated finished goods inventory balance at the end of July?

Ending finished goods imentory

If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $$9$ per direct labor$-$hour,

what are the estimated cost of goods sold and gross margin for July?

What is the estimated total selling and administrative expense for July?

Total selling and admiristrative expenses

If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $$9$ per direct labor$-$hour,

what is the estimated net operating income for July?