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Required information

The Foundational $15($Algo$)[$LO$8-2,$ LO$8-3,$ LO$8-4,$ LOB$-5,$ 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 seling price per unit is $$70.$ Budgeted unit sales for June, July. August, and September are $8,200.$

$011513813,000,15,000,$ and $16,000$ units, respectively. All sales are on credit.

b$.$ Thity 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 materials inventory equals $10\%$ of the following month's raw materials production needs. Each unit of finished goods requires $5$ pounds of raw materals. The raw materials cost $$2\mathrm{.}50$ per pound.

e$.$ Thirty percent of raw materlals purchases are paid forin the month of purchase and $70\%$ in the following month.

f$.$ The direct labor wage rate is $$14$ per hour Each unit of finished goods requires two direct labor$-$hours.

$9.$ The variable selling and administrative expense per unit sold is $$1\mathrm{.}40.$ The fixed selling and administrative expense per month is $$63\mathrm{.}000.$

Foundatlonal $8-5($Algo$)$

$5.$ If $76,000$ pounds of raw materials are needed to meet production in August, how many pounds of raw materials should be purchased in July?

Raw materials to be purchased

pounds