Electro Company budgets production of 630,000 electric panels in the second quarter and 700,000 electric panels in the third quarter. Each panel requires 0.80 pound of direct material at a cost of $1.40 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 100,800 pounds. Prepare a direct materiais budget for the second quarter