April 15,200 Raw materials requirement per unit of 4 pounds output Raw materials cost $ 2.00 per pound Direct labor requirement per unit of 2.5 direct labor- output hours Direct labor wage rate S 46.00 per direct labor hour Predetermined overhead rate (all variable) 5 18.00 per direct labor- hour Variable selling and administrative $ 3.10 per unit sold expense Fixed selling and administrative expense 3 70,000 per month Credit sales are collected: 30% in the month of the sale 70% in the following month Raw materials purchases are paid: 30% in the month of purchase 70% in the following month The ending finished goods inventory should equal 30% of the following month's sales. The ending raw materials inventory should equal 10% of the following month's raw materials production needs. The estimated nished goods inventory balance at the end of February is closest to: A) $179,550 B) $562,590 C) $490,770 D) $670,320 10) Jerimiah Bullfrogs makes one product and has provided the following information to help prepare the master budget for the next four months of operations: Budgeted selling price per unit 5 97 Budgeted unit sales (all on credit): January 10,000 February 12,000 March 13,300