Hesterman Corporation makes one product and has provided the following information to help prepare the master budget for the next four months of operations: Budgeted selling price per unit$118Budgeted unit sales (all on credit): April 7,800 May 9,400 June 14,000 July 12,100 Raw materials requirement per unit of output 3poundsRaw materials cost$3.00per poundDirect labor requirement per unit of output 2.8direct labor-hoursDirect labor wage rate$25.00per direct labor-hourCredit sales are collected: 40% in the month of the sale 60% in the following monthThe 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:
A. $920,400
B. $552,240
C. $995,920
D. $443,680
Answer: C
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