1. AirQual Test Corporation produces and sells one product. The budgeted selling price per unit is $60. Budgeted unit sales for January, February, March, and April are 7,600, 15,000, 12,400, and 12,000 units, respectively. All sales are on credit with 60% collected in the month of the sale and 40% in the following month. The expected cash collections for February is closest to:

1. $826,560

2. $722,400

3. $443,560

4. $673,200