Exercise 5-15 Marcy Jones, Waterway & Hill Fabricators' purchasing manager, has just received the company's production budget for the first quarter. January February March Quarter Budgeted Production 11,448 23,112 20,568 55,128 Budgeted sales of April is 17,400 and its beginning inventory is 2,088. May month budgeted sales is 13,800. Company policy requires an ending finished goods inventory each month that will meet 12% of the following month's sales volume. Each brick requires 3.00 pounds of clay, and Marcy expects to pay $0.24 per pound of clay in the coming year. Company policy requires an ending direct materials inventory each month that will meet 6% of the following month's production needs. Marcy expects to have 11,340 pounds of clay at a cost of $4,536 in inventory at the beginning of the year. Prepare Waterway & Hill's direct materials purchases budget for the first quarter. (Round answers to 0 decimal places, e.g. 5,275 and enter price per pound to 2 decimal places, e.g. 52.75.) January February March Quarter