Carol Steven, Sheridan & Edward Fabricators' purchasing manager, has just received the company's production budget for the first quarter. January February March Quarter Budgeted unit sales 21.000 28.000 30.000 79,000 + Budgeted ending inventory 5.600 6,000 7,400 7,400 Total units required 26,600 34,000 37,400 86,400 - Beginning inventory 3.500 5,600 6,000 3,500 Budgeted production 23,100 28,400 31,400 82,900 Budgeted sales for April is 37,000 units and for May is 26,000 units. Each brick requires 6 pounds of clay, and Carol expects to pay $1.50 per pound of clay in the coming year. Company policy requires an ending direct materials inventory each month that will meet 10% of the following month's production needs. Company policy requires an ending finished goods inventory each month that will meet 20% of the following month's sales volume. Carol expects to have 15.000 pounds of clay at a cost of $22.500 in inventory at the beginning of the year. Prepare Sheridan & Edward's direct materials purchases budget for the first quarter. (Enter price per pound to 2 decimal places, e.g. 52.75.) January February March $ $ $ $ $