[The following information applies to the questions displayed below.]

The following information is from the manufacturing budget and budgeted financial statements of Altman Corp.:

Direct materials inventory, 1/1	$	80,000
Direct materials inventory, 12/31	$	96,000
Direct materials budgeted for use during year	$	338,000
Accounts payable to suppliers, 1/1	$	48,000
Accounts payable to suppliers, 12/31	$	58,000

For the year, budgeted purchases of direct materials amounted to:

Multiple Choice

• $322,000.

• $354,000.

• $364,000.

• $344,000.