Hesterman Corporation makes one product and has provided the following Information to help prepare the master budget for the next four months of operations: $ 118 Budgeted selling price per unit Budgeted unit sales (all on credit) April May June July 7,800 9,400 14,000 12,100 Raw materials requirement per unit of output Raw materials cost Direct labor requirement per unit of output Direct labor wage rate 3 pounds $ 3.00 per pound 2.8 direct labor-hours $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: Multiple Choice