Lehnertz Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets and performance reports. During February, the company budgeted for 7,100 units, but its actual level of activity was 7,150 units. The company has provided the following data concerning the formulas used in its budgeting and its actual results for February: Data used in budgeting: 
Actual results for February: 
The direct materials in the flexible budget for February would be closest to:
Definitions:
Present Value
The market value now of a future financial amount or cash flows, factoring in a specific rate of gain.
Withdrawals
The act of removing funds from a bank account or investment vehicle.
Compounded Quarterly
An interest calculation method where interest is added to the principal sum of a deposit or loan on a quarterly basis, leading to interest earning interest.
Present Value
The present worth of a future amount of money or series of cash inflows based on a certain return rate.
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