7.) A Company produces toys from plastic resin. The Company has estimated production and sales of toys in units for the next 2 months as: May June Estimated production 42,000 48,000 Estimated sales 50,000 36,000 Each toy requires 0.25 pounds of resin. The cost of resin is $4.50 per pound. The Company wants to have 20% of the next month's materials requirements on hand at the end of each month. Prepare a direct materials purchases budget for the month of May