55. A sporting goods manufacturer budgets production of 47,000 pairs of ski boots in the first quarter and 38,000 pairs in the second quarter of the upcoming year. Each pair of boots require 2 kg of a key raw material. The company aims to end each quarter with ending raw materials inventory equal to 30% of the following quarter's material needs. Beginning inventory for this material is 28,200 kg and the cost per kg is $8. What is the budgeted materials purchases cost for the first quarter?

55B. On February 15, Jewel Company buys 12,000 shares of Marcelo Corp. common stock at $31.03 per share plus a brokerage fee of $650. The stock is classified as available-for-sale securities. This is the companys first and only investment in available-for-sale securities. On March 15, Marcelo Corp. declares a dividend of $2.40 per share payable to stockholders of record on April 15. Jewel Company received the dividend on April 15 and ultimately sells half of the Marcelo Corp. stock on November 17 of the current year for $31.80 per share less a brokerage fee of $500. The journal entry to record the sale of the 6,000 shares of stock on November 17 is: