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.

If the company estimates that it will need 55,480 pounds of raw material to satisfy production needs in March, then the raw materials inventory balance at the end of February should be closest to:

The estimated direct labor cost for February is closest to: