Exercise 5-15 Marcy Jones, Sheridan & Hill Fabricators' purchasing manager, has just received the company's production budget for the rst quarter. January February March Quarter Budgeted Production 12,850 25,397 22,585 60,832 Budgeted sales of April is 19,140 and its beginning inventory is 2,488. May month budgeted sales is 15,180. Company policy requires an ending nished goods inventory each month that will meet 13% of the following month's sales volume. Each brick requires 3.00 pounds of clay, and Marcy expects to pay $0.26 per pound of clay in the coming year. Company policy requires an ending direct materials inventory each month that will meet 7% of the following month's production needs. Marcy expects to have 12,474 pounds of clay at a cost of $4,990 in inventory at the beginning of the year. Prepare Sheridan & Hill's direct materials purchases budget for the rst quarter. (Round answers to 0 decimal places, e.g. 5,275 and enter price per pound to 2 decimal places, e.g. 52.75.)