Exercise 7-7 (Algo) Manufacturing: Direct materials budget LO P1 Rida Incorporated is preparing its direct materials budget for the second quarter. It budgets production of 276,000 units in the second quarter and 62,500 units in the third guarter. Each unit requires 0,50 pound of direct material, priced at $185 per pound. Starting with the second quarter the company plans to end each quarter with an ending inventory of meterials equal to 40% of next cururter's budgeted direct materlaks required. Raw material irventory is 55,200 poutids at the begirining of the second quarter. Prepare a direct materials budget for the second quarter Note: Enter "per unit" answers in two decimal ploces