Concord Company has 2,240 pounds of raw materials in its December 31, 2021, ending inventory. Required production for January and February of 2022 are 4,480 and 5,600 units, respectively. Two pounds of raw materials are needed for each unit, and the estimated cost per pound is $6. Management desires an ending inventory equal to 25% of next month's materials requirements. Prepare the direct materials budget for January. CONCORD COMPANY Direct Materials Budget For the Quarter Ending January 31, 2022 $ $