Electro Company budgets production of 660,000 electric panels in the second quarter and 730,000 electric panels in the third quarter. Each panel requires 0.80 pound of direct material at a cost of $2.10 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. Beginining inventory of this material is 105,600 pounds. Prepare a direct materials budget for the second quarter