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 $8 per pound Direct labor: 4 hours at $15 per hour Variable overhead: 4 hours at $5 per hour Total standard cost per unit $ 40 60 20 $120 The planning budget for March was based on producing and selling 21,000 units. However, during March the company actually produced and sold 24,000 units and incurred the following costs: a. Purchased 150,000 pounds of raw materials at a cost of $6.40 per pound. All of this material was used in production. b. Direct laborers worked 66,000 hours at a rate of $18 per hour. c. Total variable manufacturing overhead for the month was $413,820. Required: 1. What raw materials cost would be included in the company's planning budget for March? Raw material cost