Exercise 8-3 (Algo) Direct Materials Budget [LOB-4] Two grams of musk oll are required for each bottle of Mink Caress, a very popular perfume mode by a small company in western Siberia. The cost of the musk oil is $1.50 per gram Budgeted production of Mink Caress is given below by quarters for Year 2 and for the first quarter of Year 3 The inventory of musk oil at the end of a quarter must be equal to 20% of the following quarter's production needs. Some 29,600 grams of musk oil will be an 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