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 Direct materials: 5 pounds at S10 per pound$ 50 Direct labor: 4 hours at $14 per hour variable overhead: 4 hours at s4 per hour Total standard cost per unit 56 $122 The planning budget for March was based on producing and selling 29,000 units. However, during March the company actually produced and sold 34,200 units and incurred the following costs: a. Purchased 180,000 pounds of raw materials at a cost of $9.50 per pound. All of this material was used in productiorn b. Direct laborers worked 74,000 hours at a rate of $15 per hour c. Total variable manufacturing overhead for the month was $440,300. Required: 1. What raw materials cost would be included in the company's planning budget for March? Raw material cost