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Direct Materials Purchases Budget Kidman Inc. budgeted production of 63,000 personal journals in 20Y6. Paper is required to produce a journal. Assume 73 square yards of paper are required for each journal. The estimated January 1, 2046, paper inventory is 230,000 square yards. The desired December 31, 20Y6, paper inventory is 161,000 square yards. If paper costs $0.17 per square yard, determine the direct materials purchases budget for 2016. If required, round your final answer to the nearest dollar. $