Chadwick Company makes backpacks. Its budgeted figures for sales and production are below: Month Budgeted Sales in units Budgeted Production in units February 900 1,200 March 860 1,100 April 875 1,000 -Every backpack requires 3 feet of fabric which costs $4 per foot. -At the end of each month, management wants to have direct materials on hand equal to 9% of the following month's production budget. -At the end of January, the company had no direct materials inventory on hand. How much will Chadwick spend (dollars) on direct materials in March