? O?| O erto mheducation connhm.tpr_:08643956206401502 isun,?120n2 Pest Universi

Question

? O?| O erto mheducation connhm.tpr_:08643956206401502 isun,?120n2 Pest University ?r Home-B kMobile UltiPro M Gmail w Equifax portal ? Power Bill Linkedin?office email orders, witeMyPap Capital One Required Information The Rollowing intormation applies to the questions displayed below Morgantion Company mekes one product and It provided the following Information to help 10.00 points 13. What is the estimated cost of goods sold and gross margin for July, if the company always uses an estimated predetermined plantwide overhead rate of 512 per direct labor-hour? prepare the master budget for Its first four months of operations Estimated cost of goods sold Estimated gross margin a The budgeted seling price per unit is $70. Budgeted unit sales for June, Jbuly, August, and September are 9,100, 22,000, 24,000, and 25,000 units, respectively All sales are on credit b. Forty percent of credit sales are collected in the month of the sale and 60% in the ollowing month. C. The ending finished goods inventory equals 20% of thefollowing month sunitsales. d. The ending raw materials imemory equals 10% of the following month's raw materials eBook & Resources production needs. Each unit of fnished goods requires 4 pounds of raw materials. The raw matenals cost $2 50 per pound Forty percent of raw materials purchases are paid for in the month of purchase and 60% in the following month income statement e eBook Prepare a direct labor budget 1 The direct labor wage rate is $12 per hour Each unit of finished goods requires two direct cash collections g. The variable selling and administrative expense per unit sold is $1.70. The nixed selling and administrative expense per month is $61000 4/8/2013

Explanation / Answer

Unit product cost = (4*2.5+12*2+12*2) = 58 per unit

Estimated cost of goods sold = 22000*58 = 1276000

Estimated gross margin = (70-58)*22000 = 264000

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