Fuson 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	$ 118
Budgeted unit sales (all on credit):
October	9,600
November	10,100
December	13,700
January	11,300

Raw materials requirement per unit of output	3	pounds
Raw materials cost	$ 4.00	per pound
Direct labor requirement per unit of output	2.7	direct labor-hours
Direct labor wage rate	$ 23.00	per direct labor-hour
Predetermined overhead rate (all variable)	$ 12.00	per direct labor-hour

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 10% 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 November is closest to:

Multiple Choice

• $44,388

• $117,957

• $101,517

• $145,905