Red Canyon T-shirt Company operates a chain of T-shirt shops in the southwestern United States. The sales manager has provided a sales forecast for the coming year, along with the following information: Quarter 1 Quarter 2 Quarter 3 Quarter 4 Budgeted Unit Sales 44,000 68,000 34,000 68,000 Each T-shirt is expected to sell for $19. The purchasing manager buys the T-shirts for $8 each. The company needs to have enough T-shirts on hand at the end of each quarter to fill 29 percent of the next quarters sales demand. Selling and administrative expenses are budgeted at $88,000 per quarter plus 16 percent of total sales revenue. Determine budgeted cost of merchandise purchased for each quarter.