The following information has been projected for Stack Inc. for June:

Sales 70,000 units

Finished Goods Beginning Inventory 4,000 units

Finished Goods Ending Inventory 6,000 units

The selling price is $45 per unit. Each unit requires 5 pounds of material which costs $5 per pound. The beginning inventory of raw materials is 15,000 pounds. The company wants to have 7,000 pounds of material in inventory at the end of June.

Determine the budgeted material purchases (in $) for June?

Options:

$1,506,000

$1,650,000

$1,760,000

$1,500,000