Paradise Corp. budgets on an annual basis for its fiscal year. The following beginning and ending inventory levels of raw materials and finished goods are planned for next year. Beginning inventory Ending inventory Raw materials (pounds) 60,000 42,000 Finished goods (units) 34,000 51,000 Four pounds of raw material are needed to produce each unit of finished product. Each pound of raw material costs $1.45. If Paradise plans to sell 300,000 units next year, how much should they budget for cash payments for materials? Numeric Response