1 Part 1 of 15 Required information The following information applies to the questions displayed below.) Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: 10 points Print Direct material: 5 pounds at $10.00 $ 50.00 per pound Direct labor: 4 hours at $16 per hour 64.00 Variable overhead: 4 hours at $7 per 28.00 hour Total standard variable cost per unit $142.00 The company also established the following cost formulas for its selling expenses: Variable Fixed Cost Cost per per Month Unit Sold Advertising $220,000 Sales salaries and commissions $140,000 $14.00 Shipping expenses $ 5.00 The planning budget for March was based on producing and selling 20.000 units. However, during March the company actually produced and sold 24,600 units and incurred the following costs: a. Purchased 164,000 pounds of raw materials at a cost of $7.50 per pound. All of this material was used in production b. Direct laborers worked 57,000 hours at a rate of $1700 per hour. c. Total variable manufacturing overhead for the month was $653.220. d. Total advertising, sales salaries and commissions, and shipping expenses were $235,000, $465,000, and $135,000 respectively Required: 1. What raw materials cost would be included in the company's flexible budget for March? Raw material cost