The budget components for Indigo Company for the quarter ended June 30 appear below. Indigo sells recycting bins for $10 each. Budgeted production for the next three months is: Indigo desires to have recycling bins on hand at the end of each month equal to 20 percent of the following month's budgeted sales in units. On March 31, Indigo had 4,300 bins on hand. Five pounds of plastic are required for each recycling bin. At the end of each month. Indigo desires to have 10 percent of the following month's direct material needed for production on hand. At March 31 . Indigo had 14,000 pounds of plastic on hand. The direct materials used in production cost $0.50 per pound. Each recycling bin produced requires 0.10 hours of direct labon. Compute the budgeted dollar yalue of the ending difect materials inventery at the end of May. Cost of ending inventory