XYZ Company makes and sells a single product. Each finished unit requires two pounds of direct materials. The budgeted units to be produced over the next three months is as follows: Budgeted Units to be Produced February 16,000 units March 25,000 units April 19,000 units The company wants to maintain monthly ending inventories of direct materials equal to 30% of the following month's production needs. The cost of the direct materials is $2.50 per pound. Calculate the total cost of direct materials budgeted to be purchased in February. Do not use decimals in your answer.