Soprano Co. is in the process of preparing the second quarter budget for 2019, and the following data have been assembled: The company sells a single product at a selling price of $42 per unit. The estimated sales volume for the next six months is as follows: March April May 6,300 units June 7,100 units 10,400 units 8,400 units July August 9,200 units 6,300 unite All sales are on account. The company's collection experience has been that 44% of a month's sales are collected in the month of sale, 52% are collected in the month following the sale, and 4% are uncollectible. It is expected that the net realizable value of accounts receivable (.e., accounts receivable less allowance for uncollectible accounts) will be $137,592 on March 31, 2019. Management's policy is to maintain ending finished goods inventory each month at a level equal to 51% of the next month's budgeted sales. The finished goods inventory on March 31, 2019, is expected to be 3,621 units. To make one unit of finished product, 4 pounds of materials are required. Management's policy is to have enough materials on hand at the end of each month to equal 43% of the next month's estimated usage. The raw materials inventory is expected to be 15,107 pounds on March 31, 2019. The cost per pound of raw material is $5.00, and 73% of all purchases are paid for in the month of purchase; the remainder is paid in the following month. The accounts payable balance for raw material purchases is expected to be $41,041 on March 31, 2019.