Corporation makes one product and it provided the following information to help prepare the master budget for the next four month of A. Budgeted Selling Price Per Unit =$110. - Budgeted Unit Sales | January - April = 7,500, 10,600, 12,000, and 11,700 units, respectively. - All sales are on credit. B. Credit Sales - 30% are collected in the month of the sale, and - 70% in the following month. C. Ending Finished Goods Inventory =30% of the following month's sales D. Ending Raw Materials Inventory =10% of the following month's raw materials production needs - Each unit of finished goods requires 5 pounds of raw materials - Raw Materials Cost =$4.00 per pound E. Raw Materials Purchases - 40% are paid for in the month of purchase, and - 60% in the following month F. Direct Labor Wage Rate =$23.00 per hour - Each unit of finished goods requires 2.6 direct labor hours. G. Manufacturing Overhead - Entirely variable =$8.00 per direct labor hour H. Variable Selling and Administrative Expense(s) =$1.70 Per Unit Sold - Fixed Selling and Administrative Expense(s) =$70,000 Per Month The budgeted accounts receivable balance at the end of February is closest to which of the following? Please Note: - The information above can be used to create an Excel Spreadsheet. $1,166,000 $816,200 None of these are correct. $777,000 $349,800