Preston, Inc., manufactures wooden shelving units for collecting and sorting mail. The company expects to produce 280 units in July and 420 units in August. Each unit requires 12 feet of wood at a cost of $1.40 per foot. Preston wants to always have 260 feet of wood on hand in materials inventory. Compute Preston's direct materials purchases budget for July and August. July August $ 588 Budgeted direct materials purchases $ 392