2) Apex Industries has projected the following production budget for the first four months of 2015. January 10,000 Units February 8,000 Units March 5,000 Units April 4,000 Units Each unit require 3 pounds of material costing $ 4.50 per pound. At the beginning of January the opening inventory of materials was 10,000 pounds. Management requires a closing inventory of materials equalto 25% of next month's production requirement. Required: Prepare a monthly direct materials purchases budget for the first quarter of 2015 10 Marks