The following data are available for ABC Repair Shop purchasing and materials management for 2016: Purchasing manager wages $ 200,000 Fringe benefits 40,000 60,000 $500,000 Overhead Budgeted Material purchases The desired profit margin is $10 per labour hour. It is estimated that 4,000 labour hours will be worked in 2016. The company wants to make a 15% profit on material purchases. What is the budgeted 2016 total profit dollars that will be made from material purchases?