Exercise 8-3 Direct Materials Budget [LO8-4] Two grams of musk oll 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 $170 per gram Budgeted production of Mink Caress is given below by quarters for Year 2 and for the first quarter of Year 3: First Year 2 Second Third Fourth 100,000 168,000 118,000 Year 3 First 68,000 Budgeted production, in bottles 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 musk oil at the end of a quarter must be equal to 20% of the following quarter's production needs. Some 31.200 grams of musk oil 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 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 matenals to purchased