Michael Co. manufactures leather briefcases and carryalls. Michaels production manager has provided the following production budget. Each briefcase or carryall requires 1.4 yards of leather fabric and Michael maintains an ending inventory of leather fabric equal to 25% of the next months production needs.

	February	March	April	May	June
Budgeted production	50600	44600	60100	64300	57300

If each yard of leather fabric costs $6.50, how much should Michael budget for purchases of fabric in February?

$460460

$387985

$561925

$446810