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-The budgeted selling price per unit is $65. Budgeted unit sales for June, July, August, and September are 9,000, 21,000, 23,000, and 24,000 units, respectively. All sales are on credit.
-Thirty percent of credit sales are collected in the month of the sale and 70% in the following month.
-The ending finished goods inventory equals 30% of the following month’s unit sales.
-The ending raw materials inventory equals 20% of the following month’s raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.70 per pound.
-Twenty percent of raw materials purchases are paid for in the month of purchase and 80% in the following month.
-The direct labor wage rate is $14 per hour. Each unit of finished goods requires two direct labor-hours.
-The variable selling and administrative expense per unit sold is $1.60. The fixed selling and administrative expense per month is $60,000.

If 116,500 pounds of raw materials are needed to meet production in August, how many pounds of raw materials should be purchased in July?

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