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 peice per unat 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. Regerding credit sales, 20% are collected in the month of the sale and 80% in the following month. c. The ending finished goods inventory equais 20% of the following month's sales. d. The ending raw materials imventory equals 30% of the following month's raw materials peoduction 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 hout, Each unit of finished goods requires 3.0 direct laboc-hours: 9. The variable selling and administrative expense per unit sold is $3.40. The foxed seling and administrative expense per month is 580.000. The estimated selling and administrative expense for May is closest tor Multipie Chaice 5115.700 The estimated selling and administrative expense for May is closest to: Muntiple Choice $115,700 $80,000 $77,130 $35,700