Budgeted production Standard pounds per unit Production needs Budgeted ending inventory Total DM required (lbs.) Beginning inventory Budgeted purchases (lbs.) Standard cost per pound Budgeted purchases cost Budgeted sales for April is 37,000 units and for May is 26,000 units. requires an ending finished goods inventory each month that will meet 25% of the following month's sales volume. Linda expects to have 15,000 pounds of clay at a cost of $22,500 in inventory at the beginning of the year. Prepare Marigold \& Michael's direct materials purchases budget for the first quarter. (Enter price per pound to 2 decimal places, e.g. 52.75.)