Electro Company budgets production of 700,000 transmissions in the second quarter and 775,000 transmissions in the third quarter. Each transmission requires 0.8 pounds of a key raw material. Electro Company aims to end each quarter with an ending inventory of direct materials equal to 20% of next quarter's budgeted materials requirements. Beginning inventory of this raw material is 112,000 pounds. Direct materials cost $1.95 per pound. Prepare a direct materials budget for the second quarter. (Round your answer to 2 decimal places.)