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Bonkowski Corporation makes one product and has provided the following information to help prepare the master budget for the next four months of operations: Budgeted

Bonkowski Corporation 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 $ 97
Budgeted unit sales (all on credit):
January 10,000
February 12,000
March 13,300
April 15,200

Raw materials requirement per unit of output 4 pounds
Raw materials cost $ 1.00 per pound
Direct labor requirement per unit of output 2.5 direct labor-hours
Direct labor wage rate $ 23.00 per direct labor-hour
Predetermined overhead rate (all variable) $ 9.00 per direct labor-hour
Variable selling and administrative expense $ 3.10 per unit sold
Fixed selling and administrative expense $ 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 months raw materials production needs.

The estimated finished goods inventory balance at the end of February is closest to:

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