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 materialas 6 pounds at $8 per pound Direct labor 4 hours at $13 per hour Variable overheads 4 hours at $5 per hour Total standard cost per unit $ 48 52 20 $ 120 The planning budget for March was based on producing and selling 20,000 units. However, during March the company actually produced and sold 25,500 units and incurred the following costs: a. Purchased 170,000 pounds of raw materials at a cost of $7.20 per pound. All of this material was used in production. b. Direct laborers worked 73,000 hours at a rate of $14 per hour. c. Total variable manufacturing overhead for the month was $427,050. Required: 1. What raw materials cost would be included in the company's planning budget for March? Raw material cost