Petrini 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 $110. Budget unit sales for January, February, March, and April are 7,500, 10,600, 12,000, and 11,700 units respectively. All sales are on credit.

b: regarding credit sales, 30% are collected in the month of the sale and 70% in the following month.

c: the ending finished goods inventory equals 30% of the following months sales.

d: the ending raw materials inventory equals 10% of the following month's raw materials production needs. each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $4.00 per pound.

e: regarding raw materials purchases, 40% are paid for in the month of purchase and 60% in the following month.

f: the direct labor wage rate is $23.00 per hour. Each unit of finished goods requires 2.6 direct labor hours

g: manufacturing overhead is entirely variable and is $8.00 per direct labor hour.

h: the variable selling and administrative expense per unit sold is $1.70. The fixed selling and administrative expense per month is $70,000.

If the budgeted cost of raw materials purchases in February is $222,180, then the budgeted accounts payable balance at the end of February is closest to:

222,180

88,872

117,912

133,308