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Rubber Direct Materials Purchases Budget Anticipated sales for Solid Grip Company were 38,000 passenger car tires and 24,000 truck tires. Rubber and steel belts are used in producing passenger car and truck tires as follows: Passenger Car Truck 36 lb. per unit 80 ib. per unit Steel belts 6 lb, per unit 10 16. per unit The purchase prices of rubber and steel are $1.40 and $0.90 per pound, respectively. The desired ending inventories of rubber and steel belts are 35,000 and 12,000 pounds, respectively. The estimated beginning inventories for rubber and steel belts are 40,000 and 10,000 pounds, respectively. Prepare a direct materials purchases budget for Solid Grip Company for the year ended December 31, 2078. When required, enter unit prices to the nearest cent. Solid Grip Company Direct Materials Purchases Budget For the Year Ending December 31, 2018 Rubber Steel Belts Pounds required for production: Passenger tires Truck tires Total Ib ib Total pounds required Ib. ib Total pounds to be purchased b ib. Passenger Car Truck Rubber 36 lb. per unit 80 lb. per unit Steel belts 6 lb. per unit 10 lb, per unit The purchase prices of rubber and steel are $1.40 and $0.90 per pound, respectively. The desired ending inventories of rubber and steel belts are 35,000 and 12,000 pounds, respectively. The estimated beginning inventories for rubber and steel belts are 40,000 and 10,000 pounds, respectively. Prepare a direct materials purchases budget for Solid Grip Company for the year ended December 31, 2078. When required, enter unit prices to the nearest cent. Solid Grip Company Direct Materials Purchases Budget For the Year Ending December 31, 20Y8 Rubber Steel Belts Total Pounds required for productions Passenger tires Truck tires ib. Ib. Total pounds required ib ib ib Ib Total pounds to be purchased Unit price Total direct materials to be purchased