Required information [The following information applies to the questions displayed below.] 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: The planning budget for March was based on producing and selling 25,000 units. However, during March the company actually produced and sold 30,000 units and incurred the following costs: a. Purchased 160,000 pounds of raw materials at a cost of $7.50 per pound. All of this material was used in production. b. Direct laborers worked 55,000 hours at a rate of $15.00 per hour. c. Total variable manufacturing overhead for the month was $280,500. Required: 1. What raw materials cost would be included in the company's planning budget for March