M MHE Reades ework Help Seve & Exit Required information The following informati
ID: 2548147 • Letter: M
Question
M MHE Reades ework Help Seve & Exit Required information The following information applies to the questions displayed below, Morganton Company makes one product and it provided the following information to help prepare the master budget a. The budgeted selling price per unit is $70. Budgeted unit sales for June July, August, and September are 8.400 10,000, 12.000, and 13,000 unts, respectively. All sales are on credit b. Forty percent of credit sales are collected in the month of the sale and 60% in the following month c The ending finished goods inventory equals 20% of the following month s une sales d. The ending rew materiel, inventory equals 104 of the following month s rew materials production needs. Each unit of goods requires 5 pounds of raw materials. The raw meterials cost $2.00 per pound inished e. Thirty percent f. The direct labor wege rate is $15 per hour. Each unit of finished goods requires two of row materiais purchases are ped for in the month of purchase and 70% in the following month direct labor-hours unit sold is $1.80. The fixed selling and administrative expense per month is $60,000 balance at the end of July? a. Whet is the estimated accounts payable 910 o 24 Next> Prev 15 0 shhExplanation / Answer
Answer
The estimated accounts payable balance at the end of July:
70% of amount of purchases = $105800*70%
=$74060
W.N.:
Ram material purchased = (10400 units*5 pounds) +(61000*10%) - (52000*10%)
= 52900pounds*$2 per pound = 105800
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.