Exercise 22-6 Manufacturing: Direct materials budget LO P1 Rida, Inc., a manufacturer in a seasonal Industry, is preparing its direct materials budget for the second quarter. It plans production of 245,000 units in the second quarter and 57,500 units in the third quarter. Raw material inventory is 61250 pounds at the beginning of the second quarter. Other information follows: Direct materials Each unit requires 0.50 pounds of raw material, priced at $180 per pound. The company plans to end each quarter with an ending inventory of materiale equal to 501 of next quarter's budgeted materials requirements. Prepare a direct materials budget for the second quarter. (Enter "per unit" answers in two decimal places.) RIDA INC Direct Materials Budget Second Quarter Units to be produced 245,000 units Materials needed for production (pounds) Total materials requirements (pounds) Materials to be purchased (pounds) Budgeted cost of direct materials purchases