Cinrich Industrial has estimated that production for the next five quarters will be: Finished units of production require 6 pounds of raw material per unit. The raw material cost is $7 per pound. There is $294,840 of raw material on hand at the beginning of the first quarter, 2020. Cinrich desires to have 15 percent of next quarter's material requirements on hand at the end of each quarter. Prepare quarterly direct materials purchases budgets for Cinrich Industrial for 2020. Quarter 1 Quarter 2 Units to be produced Cost of raw material per unit Desired ending inventory of raw material Total material needed Beginning inventory of raw material Required raw material purchases Cost of raw material needed for production Quarter 3 Quarter 4 Year $ $ $ $ $