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Sunrise Poles manufactures hiking poles and is planning on producing 3,479 units in March and...

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Accounting

Sunrise Poles manufactures hiking poles and is planning on producing 3,479 units in March and 2,720 in April. Each pole requires a half pound of material, which costs $1.89 per pound. The companys policy is to have enough material on hand to equal 8% of the next months production needs and to maintain a finished goods inventory equal to 24% of the next months production needs. What is the budgeted cost of purchases for March? Round to the nearest penny, two decimal places.

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