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The production department of Pnston oompany has submitted the following forecast of units to oe produced by quarter for the upcoming fiscal year. In addition, the beginning raw materials inventory for the 1st Quarter is budgeted to be 3,600 pounds and the beginning accounts payable for the 1st Quarter is budgeted to be $11,775. Each unit requires three pounds of raw material that costs $2.50 per pound. Management desires to end each quarter with a raw materials inventory equal to 20% of the following quarter's production needs. The desired ending inventory for the 4th Quarter is 3,700 pounds. Management plans to pay for 70% of raw material purchases in the quarter acquired and 30% in the following quarter. Each unit requires 0.50 direct labor-hours and direct labor-hour workers are paid $12 per hour. Required: Prepare the company's direct materials budget for the upcoming fiscal year. (Input all amounts as positive values. Do not round intermediate calculations. Omit the The production department of Pnston oompany has submitted the following forecast of units to oe produced by quarter for the upcoming fiscal year. In addition, the beginning raw materials inventory for the 1st Quarter is budgeted to be 3,600 pounds and the beginning accounts payable for the 1st Quarter is budgeted to be $11,775. Each unit requires three pounds of raw material that costs $2.50 per pound. Management desires to end each quarter with a raw materials inventory equal to 20% of the following quarter's production needs. The desired ending inventory for the 4th Quarter is 3,700 pounds. Management plans to pay for 70% of raw material purchases in the quarter acquired and 30% in the following quarter. Each unit requires 0.50 direct labor-hours and direct labor-hour workers are paid $12 per hour. Required: Prepare the company's direct materials budget for the upcoming fiscal year. (Input all amounts as positive values. Do not round intermediate calculations. Omit the