DeWitt Industries has adopted the following production budget for the first 4 months of 2020. Month Units Month Units 5,490 10,470 March January 8,260 April 4,450 February Each unit requires 5 pounds of raw materials costing $2 per pound. On December 31, 2019, the ending raw materials inventory was 10,470 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 January February March Desired Ending Direct Materials (Pounds) Direct Materials Per Unit Direct Labor Cost Per Hour Total Pounds Needed for Production Total Cost of Direct Materials Purchases Beginning Direct Materials (Pounds) Direct Labor Time Per Unit Total Direct Labor Cost Units to be Produced Cost Per Pound Direct Materials Purchases Total Materials Required Total Required Direct Labor Hours