The budget components for Birk Company for the quarter ended June 30 appear below. Birk sells trash cans for $12 each. Budgeted production for the next three months is: April 26,000 units May 46,000 units June 29,000 units Birk desires to have trash cans on hand at the end of each month equal to 20 percent of the following months budgeted sales in units. On March 31, Birk had 4,000 completed units on hand. Five pounds of plastic are required for each trash can. At the end of each month, Birk desires to have 10 percent of the following months production material needs on hand. At March 31, Birk had 13,000 pounds of plastic on hand. The materials used in production costs $0.60 per pound. Each trash can produced requires 0.10 hours of direct labor. Compute the cost of the plastic inventory at the end of May.