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 budgeted cost of raw materials purchases in February is $50,152, then the budgeted accounts payable balance at the end of February is closest to:

Multiple Choice

$19,971

$35,106

$50,152

$15,046