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Petrini Corporation makes one product and it provided the following information to help prepare the...

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Accounting

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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 January February March, and Aprilare 7.500,10,600, 12,000 and 11700 units, respectively. All sales are on credit b. Regarding credit sales, 30% are collected in the month of the sale 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 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 The direct labor wage rate is $23.00 per hout Each unit of finished goods requires 26 direct labor-hours. Manufacturing overhead is entirely variable and is $8.00 per direct labor-hour h. The variable selling and administrative expense per ut sold is $170. The fixed selling and administrative expense per month is $70,000 The estimated selling and administrative expense for February is closest to

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