Ajax Manufacturing produces a single product, which takes $8\mathrm{.}0$ pounds of direct material per unit produced. The company's policy is to maintain an end$-$of$-$quarter inventory of materials equal to $25\%$ of the following quarter's material requirements for production. Assume it is currently the end of the first quarter of the new year, and that at the end of the prior fourth quarter, there were $72,000$ pounds of material on hand.