Michard Corporation makes one product and it provided the following information to help prepare the master budget for the next four months of operations: a. The budgeted selling price per unit is $125. Budgeted unit sales for April May June, and July are 7600, 10,500, 13,800, and 12,900 units, respectively. All sales are on credit b. Regarding credit sales, 20% are collected in the month of the sale and 80% in the following month c. The ending finished goods inventory equals 20% of the following month's sales. d. The ending raw materials inventory equals 30% of the following month's raw materials production needs. Each unit of finished goods requires 4 pounds of raw materials. The raw materials cost $2.00 per pound e. Regarding raw materials purchases 30% are paid for in the month of purchase and 70% in the following month, f. The direct labor wage rate is $25.00 per hour. Each unit of finished goods requires 30 direct labor-hours g. The variable selling and administrative expense per unit sold is $3.40. The fixed selling and administrative expense per month is $80.000 14 544B0 pounds of raw materials are required for production in June, then the budgeted cost of raw material purchases for May is closest to Too O Michard Corporation makes one product and it provided the following information to help prepare the master budget for the next four months of operations: a. The budgeted selling price per unit is $125. Budgeted unit sales for April May June and July are 7.600, 10,500, 13,800, and 12,900 units, respectively. All sales are on credit b. Regarding credit sales, 20% are collected in the month of the sale and 80% in the following month C. The ending finished goods inventory equals 20% of the following month's sales. d. The ending raw materials inventory equals 30% of the following month's raw materials production needs. Each unit of finished goods requires 4 pounds of raw materials. The raw materials cost $2.00 per pound e. Regarding raw materials purchases, 30% are paid for in the month of purchase and 70% in the following month. 1. The direct labor wage rate is $25.00 per hour. Each unit of finished goods requires 3.0 direct labor-hours. 9. The variable selling and administrative expense per unit sold is $3.40. The fixed selling and administrative expense per month is $80,000. The expected cash collections for May is closest to: o O O O