Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: Direct material: 5 pounds at $11.00 per pound $ 55.00 Direct labor: 3 hours at $15.00 per hour 45.00 Variable overhead: 3 hours at $7.00 per hour 21.00 Total standard variable cost per unit $ 121.00 The company also established the following cost formulas for its selling expenses: Fixed Cost per Month Variable Cost per Unit Sold Advertising $ 280,000 Sales salaries and commissions $ 200,000 $ 13.00 Shipping expenses $ 4.00 The planning budget for March was based on producing and selling 21,000 units. However, during March the company actually produced and sold 26,600 units and incurred the following costs: a. Purchased 154,000 pounds of raw materials at a cost of $9.50 per pound. All of this material was used in production. b. Direct-laborers worked 70,000 hours at a rate of $16.00 per hour. c. Total variable manufacturing overhead for the month was $510,930. d. Total advertising, sales salaries and commissions, and shipping expenses were $286,000, $511,000, and $123,000, respectively. 1. value: 10.00 points Required information Required: 1. What raw materials cost would be included in the companys flexible budget for March?Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: Direct material: 5 pounds at $11.00 per pound $ 55.00 Direct labor: 3 hours at $15.00 per hour 45.00 Variable overhead: 3 hours at $7.00 per hour 21.00 Total standard variable cost per unit $ 121.00 The company also established the following cost formulas for its selling expenses: Fixed Cost per Month Variable Cost per Unit Sold Advertising $ 280,000 Sales salaries and commissions $ 200,000 $ 13.00 Shipping expenses $ 4.00 The planning budget for March was based on producing and selling 21,000 units. However, during March the company actually produced and sold 26,600 units and incurred the following costs: a. Purchased 154,000 pounds of raw materials at a cost of $9.50 per pound. All of this material was used in production. b. Direct-laborers worked 70,000 hours at a rate of $16.00 per hour. c. Total variable manufacturing overhead for the month was $510,930. d. Total advertising, sales salaries and commissions, and shipping expenses were $286,000, $511,000, and $123,000, respectively. 1. value: 10.00 points Required information Required: 1. What raw materials cost would be included in the companys flexible budget for March?