Crane Industries has adopted the following production budget for the first 4 months of 2022. Month Units Month Units January 8,000 March 4,000 February 6,400 April 3,200 Each unit requires 2 pounds of raw materials costing $3 per pound. On December 31, 2021, the ending raw materials inventory was 3,200 pounds. Management wants to have a raw materials inventory at the end of the month equal to 20% of next month's production requirements. Prepare a direct materials purchases budget by month for the first quarter. Units to be Produced Direct Materials Per Unit Total Materials Required Add : Desired Ending Direct Materials (Pounds) Total Materials Required Less : Beginning Direct Materials (Pounds) Direct Materials Purchases Cost Per Pound CRANE INDUSTRIES Direct Materials Purchases Budget For the Quarter Ending March 31, 2022 January 8000 2 16000 February $ $ $ Total Cost of Direct Materials Purchases $ $ $