the following information to help prepare the master budget for its four months of operations

the following information to help prepare the master budget for its four months of operations

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Morganton Company makes one product and it provided the following information to help prepare the master budget for its four months of operations:

 

(a)The budgeted selling price per unit is $65. Budgeted unit sales for June, July, August, and September are 9,300, 24,000, 26,000, and 27,000 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 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 $2.50 per pound.
(e)Thirty-percent of raw materials purchases are paid for in 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.
(g)The variable selling and administrative expense per unit sold is $1.90. The fixed selling and administrative expense per month is $63,000.

 

If 105,200 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[removed]  pounds

 

 

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