DeWitt Industries has adopted the following production budget for the first 4 months of 2017. Month January February Units 10,430 Month March April Units 5,130 4,470 8,210 Each unit requires 3 pounds of raw materials costing $3 per pound. On December 31, 2016, the ending raw materials inventory was 9,400 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, 2017 January February Mai Inits to be Produced 10.430 8,210 Direct Materials Per Unit 3 otal Pounds Needed for Production 31290 24630 dd otal Materials Required ess Direct Materials Purchases Lost Per Pound $ $ otal Cost of Direct Materials Purchases $ $