A budget that is based on the actual activity of a period is known as a: a master budget. od u continuous budget. C. static budget. od flexible budget Waltzing Along Corp. is a manufacturer that makes one product. It provided the following information to help prepare the master budget for the next four months of operations: The budgeted selling price per unit is $56. Budgeted unit sales for June, July, August, and September are 46,000; 43,800; 42,000; and 45,000 units, respectively. All sales are on credit. The ending finished goods inventory equals 20% of the following month's sales. The ending raw materials inventory equals 15% of the following month's raw materials production needs Each unit of finished goods requires 6 ounces of raw materials. The raw materials cost $1.50 per ounce. The direct labor wage rate is $10.00 per hour. Each unit of finished goods requires 2.2 direct labor-hours. Variable manufacturing overhead is $5.00 per direct labor-hour. Fixed manufacturing overhead is zero. The estimated finished goods inventory balance at the end of July is closest to: a $352,800 0 b- $390,960 0 C. $264,600 od $367,920 0 e $378,000