Exercise 07-4 Manufacturing: Direct materials budget LO P1 Zira Co. reports the following production budget for the next four months April May July Production (unit) 526 580 June 558 538 Each finished unit requires six pounds of raw materials and the company wants to end each month with raw materials inventory equal to 40% of next month's production needs. Beginning raw materials Inventory for April was 1,262 pounds. Assume direct materials cost $4 per pound Prepare a direct materials budget for April, May, and June. (Round your intermediate calculations and final answers to the nearest whole dollar amount.) May 580 6 ZIRA CO Direct Materials Budget For April, May, and June April Budgeted production (units) 526 Materials requirements per unit 6 Materials needed for production (s) 3,150 Budgeted ending Inventory b) 1,392 Total materials requirements (be) 3.852 (Beginning inventory (bs) 1.262 Materials to be purchased ) 3.221 Cost per in $ 5 Total budgeted direct materials cost 9.063 $ 3.480 1,330 4,150 1.392 3.454 us 10.302 3 June 558 units 6 lbs 3.48 640 lbs 3,094 1.330 3.324 4 perib 0,072 4