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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 lamary. February, March, and April are 7,500, 10,600,12.000, and 11.700 units, respectively. All sales are on credit. b. Regarding credit sales, 30% are collected in the month of the sate and 70% in the following month c. The ending finished goods inventory equals 30% of the following month's sales. d. The ending raw materials imentory equals 10% of the following month's raw materials production needs. Each unit of frished 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. f. The direct labor wage rate is $23.00 per hour, Each unit of finished goods requires 26 direct labor-hours. 8. Manutacturing overhead is entirely variable and is $8.00 per direct bbor-hour h. The variable selling and administrative expense per unit sold is $170. The foxed selling and administrative expense per month is $70,000. The estimated cost of goods sold for February is ciosest to: $1,066,360 $220,480 sin4.880 $930.680

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