3 pts D Question 5 L4u-6vt Company produces a single product that requires three pounds of direct materials to make one unit. Budgeted production of this product for the next three months is given below: Budgeted Units to be Produced June 15,800 units July 12,900 units August 26,200 units The company wants to maintain monthly ending inventories of direct materials that are equal to 60% of the following month's production needs. The cost of direct materials is $1.75 per pound. Calculate the total cost of direct materials budgeted to be purchased in July