The following data are available for ABC repair shop purchasing and materials management for 2016: Purchasing manager wages - $200000 Fringe benefits - 40,000 Overhead - 60,000 Budgeted material purchases - $500000 The desired profit margin is $10 per labour hour. It is estimated that 4000 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?