Exercise 8-3 Direct Materials Budget (L08-4] Three grams of musk oil are required for each bottle of Mink Caress, a very popular perfume made by a small company in western Siberia. The cost of the musk oil is $1.90 per gram. Budgeted production of Mink Caress is given below by quarters for Year 2 and for the first quarter of Year 3: Budgeted production, in bottles First 68,000 Your 2 Second Third Fourth 98.000 158,000 108,000 Year 3 First 78,000 Musk oil has become so popular as a perfume Ingredient that it has become necessary to carry large inventories as a precaution against stock outs. For this reason, the inventory of muskoll at the end of a quarter must be equal to 20% of the following quarter production needs. Some 40,800 grams of muskoll will be on hand to start the first quarter of Year 2 Required: Prepare a direct materials budget for muskoll, by quarter and in total for Year 2 Mink Caress Direct Materials Budget-Year 2 Quarter First Second Thiru its of raw materials of Growtooded to most production Tots of raw meded Required: Prepare a direct materials budget for musk oil, by quarter and in total, for Year 2 Mink Caress Direct Materials Budget - Year 2 Quarter First Second Third Fourth Year Units of raw materials needed per unit of finished goods Units of raw materials needed to meet production Total units of raw materials needed Units of raw materials to be purchased Unit cost of raw materials Cost of raw materials to purchased