DeWitt Industries has adopted the following production budget for the first 4 months of 2020. Month Units Month Units January 10,350 March 5,470 February 8,230 April 4,210 Each unit requires 4 pounds of raw materials costing $2 per pound. On December 31, 2019, the ending raw materials inventory was 8,280 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. DEWITT INDUSTRIES Direct Materials Purchases Budget For the Quarter Ending March 31, 2020 January February March Units to be produced 10350 8230 Direct Materials Per Unit 4 4 Total Pounds Needed for Production 41400 32920 Add 4: Desired Ending Direct Materials (Pounds) Total Materials Required Less : Beginning Direct Materials (Pounds) Direct Materials Purchases Cost Per Pound $ $ 2. $ N Total Cost of Direct Materials Purchases $ $ $