Carla Vista Manufacturing Company makes specialty tools. In January, Carla Vista incurs manufacturing costs of $12,480,000 for direct material, direct labor, and overhead. 20% of the total costs represents overhead applied. The overhead rate is $1 for every $2 of direct labor costs incurred. Inventory balances were: At the end of January, there was $960 of overapplied overhead. Determine the cost of raw materials purchased in January. Raw materials purchases $