(15 points - 3 each line & amount) Verde Company produces chairs from plastic resin. Verde has estimated production and sales of chairs in units for the next 2 months as: June . Estimated production 60,000 Estimated sales 70,000 65,000 55,000 Each chair requires 0.50 pounds of resin. The cost of resin is $5.00 per pound. Verde wants to have 20% of the next month's materials requirements on hand at the end of each month. Instructions Prepare a direct materials purchases budget for the month of May