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Alliance Companys budgets production of 25,000 units in January and 29,000 units in the February. Each finished unit requires 4 pounds of raw material K

Alliance Companys budgets production of 25,000 units in January and 29,000 units in the February. Each finished unit requires 4 pounds of raw material K that costs $3.50 per pound. Each months ending raw materials inventory should equal 40% of the following months budgeted materials. The January 1 inventory for this material is 40,000 pounds. What is the budgeted materials cost for January?

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