Electro Company budgets production of 570,000 transmissions in the second quarter and 645,000 transmissions in the third quarter. Each transmission requires 0.8 pounds of a key raw material. Electro Company aims to end each quarter with an ending inventory of direct materials equal to 20% of next quarter's budgeted materials requirements. Beginning inventory of this raw material is 91,200 pounds. Direct materials cost $1.82 per pound. Prepare a direct materials budget for the second quarter. ELECTRO COMPANY Direct Materials Budget Second Quarter 570,000 units Budgeted production (units) Materials requirements per unit 0.80 Ibs. 456,000 Ibs. Materials needed for production (Ibs.) Budgeted ending inventory (Ilbs.) Total materials requirements (lbs.) Budgeted beginning inventory (Ilbs.) Materials to be purchased (Ibs.) Materials price per pound Budgeted cost of direct materials purchases