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 imventory equals 20% of the following month's salos d. The ending raw materiais inventory equals 30% of the following montis's raw materiais production needs, Each unit of finished goods requires 4 pounds of raw materials. The row materials cost $2.00 per pound. e. Regarding raw materials purchases, 30% are pald for in the month of purchase and 70% in the following month. t. The direct labor wage rate is $25.00 per hour. Each unit of finished goods requires 3.0 direct inbor-hours. 9. The variabie selling and administrative expense per unit sold is $3.40. The fixed selling and administrative expense per month is $80,000 The expected cosh collections for May is closest to: Multiple Choice $262,500 $1,022,500 $760,000