Exercise 22-05 DeWitt Industries has adopted the following production budget for the first 4 months of 2020. Month January February Units Month 10,280 March 8,430 April Units 5,170 4,420 Each unit requires 4 pounds of raw materials costing $4 per pound. On December 31, 2019, the ending raw materials inventory was 8,224 pounds. Management wants to have a raw materials inventory at the end of the month equal to 20% of next month's production requirements. Prepare a direct materials purchases budget by month for the first quarter. DEWITT INDUSTRIES Direct Materials Purchases Budget January February March $ $ Click if you would like to Show Work for this question: Open Show Work