Crane Company has 1,280 pounds of raw materials in its December 31,2021 , ending inventory. Required production for January and February of 2022 are 3,200 and 4,000 units, respectively. Two pounds of raw materials are needed for each unit, and the estimated cost per pound is $5. Management desires an ending inventory equal to 20% of next month's materials requirements. Prepare the direct materials budget for January. CRANE COMPANY Direct Materials Budget Beginning Materials Inventory Units to be Produced Total Required Direct Labor Hours Direct Materials Units to be Purchased Total Materials Required Desired Ending Inventory Pounds Direct Labor Time Per Unit Direct Labor Cost Per Hour Total Pounds Required for Production Direct Materials Pounds Per Unit Total Cost of Direct Materials Purchases Cost Per Pound Total Direct Labor Cost