Sunrise Poles manufactures hiking poles and is planning on producing 4,371 units in March and 2,289 in April. Each pole requires a half pound of material, which costs $1.39 per pound. The companys policy is to have enough material on hand to equal 6% of the next months production needs and to maintain a finished goods inventory equal to 29% of the next months production needs. What is the budgeted cost of purchases for March? Round to the nearest penny, two decimal places.