Exercise 8-3 (Algo) Direct Materials Budget [LO8-4] Four grams of musk oil are required for each bottle of Mink Caress, o popular perfume made by a company in western Siberia. The cost of the musk oll is $170 per gram. Budgeted quarterly production of Mink Caress is given below for Year 2 and the first quarter of Year 3 : The inventory of musk oil at the end of a quarter must equal 20% of the following quarter's production needs. A total of 73,600 grams of musk oil will be on hand to start the first quarter of Year 2. Required: Prepare a direct materials budget for musk oll, by quarter and in total, for Year 2