DeWitt Industries has adopted the following production budget for the first 4 months of 2020. Month Units Month Units January 10,170 March 5,190 February 8,470 April 4,310 Each unit requires 5 pounds of raw materials costing $3 per pound. On December 31, 2019, the ending raw materials inventory was 10,170 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 Beginning Direct Materials (Pounds) Direct Labor Cost Per Hour Total Required Direct Labor Hours Total Pounds Needed for Production Total Direct Labor Cost Units to be produced Direct Labor Time Per Unit Total Cost of Direct Materials Purchases Direct Materials Per Unit Total Materials Required Desired Ending Direct Materials (Pounds) Cost Per Pound Direct Materials Purchases $ $ $ $ $ $ January February March > $ $ $ $ $