Clinton Industrial has estimated that production for the next five quarters will be: Production Information 1st quarter 2020 54,000 units 2nd quarter, 2020 48,800 units 3rd quarter, 2020 59,200 units 46,400 units 4th quarter, 2020 1st quarter, 2021 55,600 units Finished units of production require 6 pounds of raw material per unit. The raw material cost is $7 per pound. There is $340,200 of raw material on hand at the beginning of the first quarter 2020. Clinton 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 Clinton Industrial for 2020, Total material needed Units to be produced Cost of raw material per unit Beginning inventory of raw material Required raw material purchases Desired ending inventory of raw material Cost of raw material needed for production Clinton Industrial Direct Materials Purchases Budget For the Year Ending December 31, 202 Quarter 2 Quarter 1 $ $ $ Clinton Industrial Direct Materials Purchases Budget r the Year Ending December 31, 2020 Quarter 2 Quarter 3 Quarter 4 Year $ $ $ $ $