Current Attempt in Progress Ceradyne Industrial has estimated that production for the next five quarters will be: Production Information 1st quarter, 2020 36,900 units 2nd quarter, 2020 33,600 units 3rd quarter, 2020 40,200 units 4th quarter, 2020 31,200 units 1st quarter, 2021 38,500 units Finished units of production require 6 pounds of raw material per unit. The raw material cost is $7 per pound. There is $232,470 of raw material on hand at the beginning of the first quarter, 2020. Ceradyne 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 Ceradyne Industrial for 2020. Ceradyne Industrial Direct Materials Purchases Budget For the Year Ending December 31, 2020 Quarter 1 Quarter 2 Quarter 3 Quarter 4 tA $ $ $ Units to be produced Cost of raw material per unit Desired ending inventory of raw material Total material needed Beginning inventory of raw material Required raw material purchases Cost of raw material needed for production