(Chat ite icon to vien pie productoo actedile) Requirement man Industries manufactures a popular interactive stuffed animal for chidren that requiros wo coingdien of the following month's production needs. The production schedule for the frist four mon man Industres has a policy that states that the e (Cick the icon to view the production schedule.) ulirement pare a direct materials budget for the first quarter that shows both the number of compuler chips noeded and the dollar amount of the purchases in the budget. pare the direct manerals budget by first calculating the of Hottrs Direct M For the Months of tio be produced Hiply by: Quanity of diect materisis needed per unit anthy needed for production. 16: Desired ending inventory of direct emalerials al quartity needed Hoffman industries manulactures a popular interactive stuted animal for children that requires two computer chips inside each foy. The company pays $1 for each computer chip. To help to guard against stockouts of the computer chip. Hoffman Industries has a policy that states that the ending inventory of computer chips should be at least 25% of the following month's production needs. The production schedule for the first four months of the year is as follows: (Click the icon to view the production schndule.) 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 purchases in the budget. Prepare the direct materials budget by first caloulating the total quantity needed, then complete the budget pmputer chip. To help to guard against stockouts of the computer chip, Hoffman Industries has a policy that states that the e least 25% of the follor (Click the icon to vid equirement repare a direct materia ponths of the year is as foll needed and the dollar an