Mauger Industries manufactures wonderflonium. For each unit of wonderflonium, 50 kg of flonium is required. The projected sales in units are:

January February March April Sales: 1,000 1,200 1,500 1,600

The projected production requirements for the next four months are:

January February March April Production :1,020 1,230 1,510 1,460

For direct materials, ending inventory is required to be 15% of the next months production needs. For finished goods, ending inventory should be 10% of the next months sales. Each kilogram of flonium costs $2. There are no work-in-process accounts. Direct labour for the quarter is estimated at $56,250. Fixed overhead for the quarter is $100,000, and variable overhead is $3 per unit produced. The opening balance in finished goods on January 1 is $14,500, which is 10% of estimated sales. The company uses first in, first out (FIFO). All prices have remained stable over the period. What is the budgeted cost of goods sold for the quarter ending March 31?