Austen Industries manufactures a popular interactive stuffed animal for children that requires four computer chips inside each toy. The company pays $3 for each computer chip. To help to guard against stockouts of the computer chip, Austen Industries has a policy that states that the ending Inventory of computer chips should be at least 25% of the following months 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 direct materials budget for the first quarter that shows both the number of computer chips needed and the dollar amount of the purchaset in the budget Data table 4 4 Prepare the direct materiais budget by first calculating the total quantity needed, then complete the budget Austen Industries Direct Materials Budget For the Months of January through March January February March Quarter Units to be produced 5.000 4.200 4.600 14,700 Multiply by: Quantity of direct materials needed per und Quantity needed for production 23.600 16,800 18,400 58.800 Plus Desired ending inventory of direct materials 4,200 4.600 4.800 4.800 Total quantity needed 27.800 21.400 23200 63,600 Less: Beginning inventory of Crect materials Quantity to purchase Multiply by Cost per unit Total cost of direct material purchases January... February March April Stuffed animals to be produced 5.900 4,200 4,600 4,800 Print Done