Electro Company budgets production of 580,000 electric panels in the second quarter and 650,000 electric panels in the third quarter. Each panel requires 0.80 pound of direct material at a cost of $1.50 per pound. The company desires to end each quarter with an ending inventory of this material equal to 20% of next quarters budgeted materials requirements. Beginning inventory of this material is 92,800 pounds.

Prepare a direct materials budget for the second quarter.

Electro Company budgets production of 580,000 electric panels in the second quarter and 650,000 electric panels in the third quarter. Each panel requires 0.80 pound of direct material at a cost of $1.50 per pound. The company desires to end each quarter with an ending inventory of this material equal to 20% of next quarter's budgeted materials requirements. Beginning inventory of this material is 92,800 pounds. Prepare a direct materials budget for the second quarter