2, E9-23A (similar to) Part 1 of 2 HW Score: 0%, 0 of 25 points O Points: 0 of 2 Save McKnight Industries manufactures a popular interactive stuffed animal for children that requires two computer chips inside each toy. The company pays $1 for each computer chip. To help to guard against stockouts of the computer chip, McKnight industries has a policy that states that the ending inventory of computer chips should be at least 30% of the blowing month's production needs. The production schedule for the first four months of the year is as follows (Click the icon to view the production schedule) Requirement Prepare a drect materials budget for the first quarter that shows both the number of computer chips needed and the dollat amount of the purchases in the budget Prepare the direct materials budget by first calculating the total quantity needed, then complete the budget McKnight Industries Direct Materials Budget For the Months of January through March January February March Quarter Units to be produced Multigy by Quantity of dend materials needed per uni Quantly needed for production Pun Desid ending inventory of died materials Tutal qnity needed get by Data table Fo January.. February. March ct materials April tion atory of direc Stuffed animals to be produced 5,900 4,800 4,100 4,600 Print Done -X