Michaed Corporation makes one product and it provided the following information to help prepare the master budget for the next four months of operaions 8 s The budgeted selling price per unit is $125 Budgeted unit sales for Aprit, May June, and July are 7600, 10.500, 13.800, and 12.900 units, respectively All sales are on credt b.Regarong erede sales, 20% are colected ite month of the sale and inthefolowig month. The mang firshed goos rventry equals 20% ofthe flumng morens sales. eeming taw materials n entory equals 30%ofthe tollowng month's raw materals prodeton needs Each uit of firited goods reones 4 pounds of raw materials The raw matmah cost $200 per po e Regarding raw materials prchases, 30% are paid forinthe month of puchase and 70% inte fokwngmonth The direct labor wage rate is $25.00 per hour Each unit of Sinished goods requires 3.0 direct labor-hours g The variable seling and adminstrative expense per unt sold is $3.40. The fixed selling and administrative expense per month s $80000 The estimated direct labor cost for May is closest to 558000 33 480 83000 279000