Company policy requires that ending inventories for each month be 25% of next month's sales. Ak the beginning of January, the inventory of peanut butter is 9 , 30o jars. Each jar of peanut butter needs two raw materials: 24 ounces of peanuts and one jar set (a glass jar and lid). Company policy requires that ending inventories of raw materials for each month be 10% of the next month's pioduction needs. That policy was met on January 1. Required 2. Prepare a direct materials purchases budget for jars for the months of January and February. Prepare a direct materials purchases budget for peanuts for the months of January and February