Anticipated sales for Safety Grip Company were 48,000 passenger car tires and 14,000 truck tires. Rubber and steel belts are used in producing passenger car and truck tires according to the following table: Passenger Car Truck Rubber Steel belts 31 lbs. per unit 3 lbs. per unit 72 lbs. per unit 8 lbs. per unit The purchase prices of rubber and steel are $3.5 and $4.6 per pound, respectively. The desired ending inventories of rubber and steel belts are 45,000 and 9,000 pounds, respectively. The estimated beginning inventories for rubber and steel belts are 53,000 and 7,000 pounds, respectively. Prepare a direct materials purchases budget for Safety Grip Company for the year ended December 31, 2019. Safety Grip Company Direct Materials Purchases Budget For the Year Ending December 31, 2019 Rubber Steel Belts Total Pounds required for production: Passenger tires 1,488,000 lbs. 144,000 lbs. Truck tires 1,008,000 112.000 Desired inventory, December 31, 2019 45,000 9,000 265,000 lbs. Total pounds available Estimated Inventory, January 1, 2019 7,000 2,541,000 lbs. 53,000 lbs. 3.5 Total units purchased lbs. Unit price Total direct materials to be purchased