Jamison LLC makes one product and it provided the following information to help prepare the master budget for the next two months of operations:

Budgeted production in units for May and June are $11,000$ and $12,000,$ respectively.

Each unit of finished goods requires $1$ pound of raw materials.

The raw materials cost $$5\mathrm{.}00$ per pound.

The ending raw materials inventory equals $30\%$ of the following month's raw materials production needs.

What is the budgeted$/$planned cost of total raw material purchases for May?

$$56$;$500$

$$56,000$

$$55,000$

$$53,500$

$$51,500$