Fortin Limited produces and sells a single product, a wearable LED light for runners and cyclists. The analytics group at Fortin Limited has developed the following estimates for unit sales in the upcoming year. First Quarter 24,000 Second Quarter 22,500 Third Quarter 21,000 Fourth Quarter 22,000 Budgeted unit sales Each light requires two separate LED bulbs, each of which costs $2. To ensure enough LED bulbs are on hand to support short-term production if a problem arises with the sole supplier, Fortin Limited maintains an ending inventory of 10% of the following quarter's production needs. A total of 4,800 LED bulbs will be on hand to start the first quarter of the upcoming fiscal year. Required: Prepare a direct materials purchases budget for LED bulbs, by quarter and in total, for the upcoming fiscal year. At the bottom of your budget, show the dollar amount of purchases for each quarter and for the year in total. FORTIN LIMITED Direct Materials Budget - Year 2 Quarter First Second Third Fourth Year 24,000 x 22,500 X 21,000 x 22,000 89,500 X 2 48.000 45,000 42.000 44,000 179,000 4,200 x Required production of lights Number of bulbs per light Total production needsbulbs Add: Desired ending inventorybulbs Total needs-bulbs Less: Beginning inventory-bulbs Required purchases-bulbs Total cost of purchases 4,500 X 52,500 4,800 49,200 4,500 x 44,700 X 89,400 X $ 4,400 4,800 4,800 X 46,400 48,800 183,800 4,200 x 4,400 4,800 42,200 x 44,400 X 179,000 X 84,400 X $ 88,800 X $ 358,000 X 47,700 X $ 95,400 X $