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 March 31, 2020 For the Month Ending March 31, 2020 For the Quarter Ending March 31, 2020 February Total Cost of Direct Materials Purchases Desired Ending Direct Materials (Pounds) Cost Per Pound Total Pounds Needed for Production Direct Materials Purchases Units to be Produced Direct Labor Cost Per Hour Total Materials Required Total Direct Labor Cost Direct Labor Time Per Unit Total Required Direct Labor Hours Direct Materials Per Unit Beginning Direct Materials (Pounds) January February $ $ $ > January February $ January February March > > $ $ $ $ $