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. Budgeted 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 month's 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 materiais cost $4.00 per pound. e. Regarding raw materials purchase5, 40% are paid for in the month of purchase and 60% in the following month. 1. The direct labor wage rate is $23.00 per hour. Each unit of finished goods requires 2.6 direct labor-hours: 9. 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: Multiple Choice $117,912 $222,180 $133,308 $88,872