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The Himalayan Pepper Corp makes one product and has provided the following information: Budgeted selling price per unit $ 100per unit sold Budgeted unit sales, February 1,000 units Raw materials requirement per unit of output 5pounds Raw materials cost $ 2.00per pound Direct labor requirement per unit of output 2direct labor-hours Direct labor wage rate $ 5.00per direct labor-hour Predetermined overhead rate (all variable) $ 5.00per direct labor-hour Variable selling and administrative expense $ 10.00per unit sold Fixed selling and administrative expense $ 40,000per month The estimated net operating income (loss) for February is closest to: (Round your intermediate calculations to 2 decimal places.) O $30,000 O $40,000 O $20,000 $50,000 $ 100 Budgeted selling price per unit Budgeted unit sales (all on credit): April May June July 10 10 20 40 Raw materials requirement per unit of output Raw materials cost Direct labor requirement per unit of output Direct labor wage rate 3pounds $ 3.00per pound 2.8direct labor-hours per direct labor $ 25.00 hour Credit sales are collected: 40% in the month of the sale 60% in the following month The ending finished goods inventory should equal 40% of the following month's sales. The ending raw materials inventory should equal 20% of the following month's raw materials production needs. The expected cash collections for May is closest to: $400 O $600 O $1,400 O $1,000