Jackson Company makes and sells a single product. It takes three ounces of direct materials to produce one unit of this product. Budgeted units to be produced for the next three months is as follows: February March April budgeted units to be produced 36,800 53,700 21,200 The company wants to maintain monthly ending inventories of direct materials equal to 115% of the next month is production needs. The cost of direct materials is $1.60 per ounce. The company is in the process of preparing a direct materials purchases budget. Calculate the cost of direct materials budgeted to be purchased in February