Direct materials purchases budget Tobin's Frozen Pizza Inc. has determined from its production budget the following estimated production volumes for 12" and 16" frozen pizzas for November: Units Budgeted production volume 12" Pizza 16" Pizza 64,000 44,000 There are three direct materials used in producing the two types of pizza. The quantities of direct materials expected to be used for each pizza are as follows: 12 Pizza 16" Pizza Direct materials: Dough 0.55 lb. per unit 0.80 lbs. per unit Tomato 0.25 0.40 Cheese 0.70 1.20 In addition, Tobin's has determined the following information about each material: Dough Tomato Cheese Estimated inventory, November 1 2,400 lbs. Desired inventory, November 30 Price per pound 1,800 lbs. $0.70 1,200 lbs. 3,300 lbs. 1,100 lbs. $0.80 2,800 lbs. $1.05 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below