Sunrise Poles manufactures hiking poles and is planning on producing 3,900 units in March and 3,800 units in April. Each pole requires a half pound of material, which costs $0.80 per pound. The company's policy is to have enough material on hand to equal 10% of the next month's production needs and to maintain a finished goods inventory equal to 25% of the next month's production needs. What is the budgeted cost of purchases for March? Budgeted cost of purchases $