Sleeter Corporation makes one product and it provided the following information to help prepare the master budget for the next four months of operations:

Budgeted unit sales for April, May, June, and July are 7,500, 11,900, 10,800, and 14,800 units, respectively. All sales are on credit.

The ending finished goods inventory equals 30% of the following month's sales.

The ending raw materials inventory equals 30% of the following months raw materials production needs. Each unit of finished goods requires 6 pounds of raw materials. The raw materials cost $5.00 per pound.

If 72,000 pounds of raw materials are required for production in June, then the budgeted cost of raw material purchases for May is closest to:

Garrison 16e Rechecks 2017-09-30, 2017-10-09

Multiple Choice

$350,970

$347,100

$455,100

$559,230