Piechocki Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets and performance reports. During May, the company budgeted for 8,400 units, but its actual level of activity was 8,450 units. The company provided the following data concerning the formulas used in its budgeting and its actual results for May. Data used in budgeting: Revenue Direct labor Direct materials Manufacturing overhead Selling and administrative expenses Total expenses Fixed element per month $ 0 $ 0 0 41,000 27,200 $ 68,200 Variable element per unit $ 35.90 $ 6.50 11.90 2.20 0.50 $ 21.10 Actual results for May: Revenue Direct labor Direct materials Manufacturing overhead Selling and administrative expenses $ 302,100 $ 54,310 $ 99,230 $ 52,000 $ 30,640 he direct materials in the flexible budget for May would be closest to: Multiple Choice O $100,555 O $99,960 O $99,960 $101,840