Cowles Corporation Inc., makes and sells a single product, Product R. Three yards of Material K are needed to make one unit of Product R. Budgeted production of Product R for the next five months is as follows: 
The company wants to maintain monthly ending inventories of Material K equal to 30% of the following month's production needs. On July 31, this requirement was not met because only 3,500 yards of Material K were on hand. The cost of Material K is $0.80 per yard. The company wants to prepare a Direct Materials Purchase Budget for the rest of the year. The total cost of Material K to be purchased in August is:
Definitions:
Spending Variances
The difference between the actual amount spent and the budgeted amount for various expenses.
Meals
Expenses for food consumed, often related to business meetings or employee welfare.
Kitchen Operations
The activities and tasks related to managing and running a kitchen in a restaurant or hotel, including food preparation and service.
Customers Served
The number of clients or customers that a business has provided its products or services to within a specific timeframe.
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