Direct Materials Purchases Budget Anticipated sales for Solid Grip Company were 35,000 passenger car tires and 11,000 truck tires. Rubber and steel belts are used in producing passenger car and truck tires as follows: Passenger Car Truck Rubber Steel belts 26 lb. per unit 4 lb. per unit 61 lb. per unit 10 lb. per unit The purchase prices of rubber and steel are $3.40 and $4.50 per pound, respectively. The desired ending inventories of rubber and steel belts are 33,000 and 7,000 pounds, respectively. The estimated beginning inventories for rubber and steel belts are 39,000 and 6,000 pounds, respectively. Prepare a direct materials purchases budget for Solid Grip Company for the year ended December 31, 20Y8. When required, enter unit prices to the nearest cent. Solid Grip Company Direct Materials Purchases Budget For the Year Ending December 31, 20Y8 Pounds required for production: Passenger tires Truck tires Total pounds required Total pounds to be purchased Unit price (per pound) Total direct materials to be purchased Rubber lb. Steel Belts Total lb. lb. lb. lb. lb. x $ x $ $