Petrinl 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 endin ra materials inventor equals % o the follo in month's raw materials production needs. Each nito n she oo sre ui es 5 pounds of a materials. era materials o 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 26 direct labor-hours g. Manufacturing overhead is entely varable and is $8.00 per direct labor-hour h. The variable selling and administrative expense per unit sold is $170. The fied selling and administrative expense per month s S 0 . 4 Op pound The estimated selling and administrative expense for February is closest to Multiple Choice $70.000 $58.680 $88.020 $18,020