Blue Company has 2,983 pounds of raw materials in its December 31, 2016, ending inventory. Required production for January and February of 2017 are 4,520 and 5,720 units, respectively. 3 pounds of raw materials are needed for each unit, and the estimated cost per pound is $8. Management desires an ending inventory equal to 22% of next months materials requirements. Prepare the direct materials budget for January