Required information The Foundational 15 [L010-1, Lo10-2, Lo [The following information applies to the questions displayed below.] Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on di 1 of 15 labor-hours and its standard cost card per unit is as follows: Direct materials: 6 pounds at $9 per pound Direct labor: 3 hours at $15 per hour Variable overhead: 3 hours at $5 per hour Total standard cost per unit $ 54 45 15 $ 114 rint rences The planning budget for March was based on producing and selling 20,000 units. However, during March the comparn actually produced and sold 25,000 units and incurred the following costs: a. Purchased 180,000 pounds of raw materials at a cost of $7.50 per pound. All of this material was used in production b. Direct laborers worked 61,000 hours at a rate of $16 per hour c. Total variable manufacturing overhead for the month was $306,220. Foundational 10-1 Required 1. What raw materials cost would be included in the company's planning budget for March? Raw material cost