Hesterman 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):

April 7,800

May 9,400

June 14,000

July 12,100

Raw materials requirement per unit of output 3 pounds

Raw materials cost $ 3.00 per pound

Direct labor requirement per unit of output 2.8 direct labor-hours

Direct labor wage rate $ 25.00 per direct labor-hour

Credit sales are collected:

40% in the month of the sale

60% in the following month

The ending finished goods inventory should equal 40% of the following month's sales. The ending raw materials inventory should equal 20% of the following month's raw materials production needs.

The expected cash collections for May is closest to: Group of answer choices

$920,400

$443,680

$552,240

$995,920