Direct Materials Purchases Budget Anticipated sales for Safety Grip Company were 40,000 passenger car tires and 12,000 truck tires. Rubber and steel belts are used in producing passenger car and truck tires according to the following table: Passenger Car Truck Rubber 25 lbs. per unit 58 lbs. per unit Steel belts 3 lbs. per unit 8 lbs. per unit The purchase prices of rubber and steel are $3 and $3.9 per pound, respectively. The desired ending inventories of rubber and steel belts are 38,000 and 8,000 pounds, respectively. The estimated beginning inventories for rubber and steel belts are 44,000 and 6,000 pounds, respectively. Prepare a direct materials purchases budget for Safety Grip Company for the year ended December 31, 2019. Safety Grip Company Direct Materials Purchases Budget For the Year Ending December 31, 2019 Rubber Steel Belts Total Pounds required for production: Passenger tires 1,000,000 lbs. 120,000 lbs. Truck tires 696,000 96,000 Desired inventory, December 31, 2019 Total pounds available lbs. lbs. Total units purchased Ibs. lbs. Unit price x $ x $1 1 Total direct materials to be purchased