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[The following information applies to the questions displayed below.]

The following information is from the manufacturing budget and budgeted financial statements of Altman Corp.:

Direct materials inventory, 1/1	$ 83,000
Direct materials inventory, 12/31	$ 99,000
Direct materials budgeted for use during year	$ 341,000
Accounts payable to suppliers, 1/1	$ 51,000
Accounts payable to suppliers, 12/31	$ 61,000

For the year, budgeted purchases of direct materials amounted to:

Multiple Choice

• $357,000.

• $325,000.

• $347,000.

• $367,000.