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 7,300 units, but its actual level of activity was 7,250 units. The company has provided the following data concerning the formulas used in its budgeting and its actual results for May: Data used in budgeting: Fixed variable element element per per month unit $34.80 Revenue $ 0 Direct labor Direct materials Manufacturing overhead Selling and administrative expenses Total expenses 30,000 26,100 $56,100 $ 6.80 13.30 2.30 0.80 $23.20 Actual results for May: Revenue $ 253,600 Direct labor $ 48,970 Direct materials $ 98,250 Manufacturing overhead $ 46,500 Selling and administrative expenses $ 30,530 The direct labor in the planning budget for May would be closest to: o $49,610 o $48,970 o o $49,640