Direct Materials Purchases Budget Anticipated sales for Sure Grip Tire Company were 36,000 passenger car tires passenger car and truck tires according to the following table: and 11,000 truck tires. Rubber and steel belts are used in producing Passenger Car Truck Rubber Steel belts 7lbs. per unit 18 lbs. per unit The purchase prices of rubber and steel are $3.6 and $4.7 per pound, respectively. The desired ending inventories of rubber and steel belts are 27 lbs. per unit 63 lbs. per unit 34,000 and 7,000 pounds, respectively. The estimated beginning inventories for rubber and steel belts are 40,000 and 6,000 pounds, respectively. Prepare a direct materials purchases budget for Sure Grip Tire Company for the year ended December 31, 2016. When required, enter unit prices to the nearest cent. Sure Grip Tire Compamy Direct Materials Purchases Budget Rubber Steel Belts Tota Pounds required for production: Passenger tires Truck tires Total Ibs lbs bs. Ios. Total units purchased Unit price Total direct materials to be purchased