Exercise $20-7($Algo$)$ Manufacturing: Direct materials budget LO P$1$

Rida Incorporated is preparing its direct materials budget for the second quarter. It budgets production of $245,000$ units in the second quarter and $57,500$ units in the third quarter. Each unit requires $0\mathrm{.}50$ pound of direct material, priced at $$180$ per pound. Starting with the second quarter, the company plans to end each quarter with an ending inventory of materials equal to $50\%$ of next quarter's budgeted direct materials required. Raw material inventory is $61,250$ pounds at the beginning of the second quarter.

Prepare a direct materials budget for the second quarter. $($Enter "per unit" answers in two decimal places.$)$

$\backslash$table$[[$RIDA INCORPORATED$],[$Direct Materials Budget$],[,$Second Quarter$],[$Units to produce,$245,000,$units$],[$Materials required per unit,$0\mathrm{.}50,$pounds$],[$Materials needed for production $($pounds$),122,500,$pounds$],[$Add: Beginning materials inventory$],[$Total materials required$],[$Less: Beginning materials inventory,$61,250,$pounds$],[$Materials to purchase $($pounds$)],[$Materials cost per pound,$180,$per pound$],[$Cost of direc,,$]]$