The estimated finished goods inventory balance at the end of February is closest to: (Round your intermediate calculations to 2 decimal places.) Multiple Choice $74,880 $362160 5315,0B0 1207280 Petrini 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 11700 units, respectively. All sales are on credit b. Regarding credit soles, 30% are collected in the month of the sole and 70% in the following month c. The ending finished goods inventory equals 30% of the following month's soles. d. The ending raw materials inventory equals 10% of the following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $4.00 per pound e. Regarding raw materials purchases, 40% are paid for in the month of purchase and 60% in the following month, 1. The direct labor wage rate is $23.00 per hour. Each unit of finished goods requires 2.6 direct labor-hours 9 Manufacturing overhead is entirely variable and is $8.00 per direct labor hour n. The variable selling and administrative expense per unit sold is $170. The fixed selling and administrative expense per month is $70,000. The estimated cost of goods sold for February is closest to: (Round your intermediate calculations to 2 decimal places.) The estimated cost of goods sold for February is closest to: (Round your intermediate calculations to 2 decimal places.) Multiple Choice 30 $1.066 360 $220,400 1930.610 5845880