Direct Materials Purchases Budget Killingsworth Inc. budgeted production or 74,000 personal journals in 20Y6. Paper is required to produce a journal. Assume 50 square yards of paper are required for each journal. The estimated January 3, 20Y6, paper inventory is 222,000 square yards. The desired December 31, 20Y6, paper inventory is 167,000 square yards. if paper costs $0.08 per square yard, determine the direct materials purchases budget for 20Y6. I required, round your final answer to the nearest dollar