Direct Materials Purchases Budget Lorenzo's Frozen Pizza Inc. has determined from its production budget the following estimated production volumes for 12" and 16" frozen pizzas for September: Units 12" Pizza 16" Pizza Budgeted production volume 12,900 24,400 Three direct materials are used in producing the two types of pizza. The quantities of direct materiais expected to be used for each plzza are as follows: 12" Pizza 16" Pizza Direct materials: Dough 0.80 lb. per unit 1.50 lb. per unit Tomato 0.50 0.70 Cheese 0.70 1.30 In addition, Lorenzo's has determined the following information about each material: Dough Tomato Cheese Estimated Inventory, September 1 560 lb. 160 lb 360 lb Desired Inventory, September 30 590 lb. 160 lb. 390 lb. Price per pound $1.00 $2.10 $3.20 Prepare September's direct materials purchases budget for Lorenzo's Frozen Pizza Inc. When required, enter unit prices to the nearest cent. Prepare September's direct materials purchases budget for Lorenzo's Frozen Pizza Inc. When required, enter unit prices to the nearest cent. Lorenzo's Frozen Pizza Inc. Direct Materials Purchases Budget For the Month Ending September 30 Dough Tomato Cheese Total Units required for production: 12" pizza 16" pizza Plus desired Inventory, September 30 590 160 390 Total pounds required Less estimated Inventory, September 1 560 160 360 Total units to be purchased X Unit price X$ 1.00 x $ 2.10 x $ 3.20 Total direct materials to be purchased Com