Ha ndley Industrial has estimated that production for the next quarters will be: Production Information 1st quarter, 2020 2nd quarter, 2020 3rd quarter, 2020 4th quarter, 2020 1st quarter, 2021 54,900 units 49,600 units 60,200 units 47200 units 56EOOunits Finished units of production require 6 pounds of raw material per unit The raw material cost is $7 per pound. There is S345E70 of raw material on hand at the beginning of the first quarter, 2020. Handley desires to have 15 percent of next quarter's material requirements on hand at the end of each quarter. Prepare quarterly direct materials purchases budgets for Handley I ndustrial for 2020