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. Fourth First Quarter 24,000 Second Quarter 22,500 Third Quarter 21,000 Budgeted unit sales Quarter 22,000 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. First Year 89,500 X Fourth 22,000 2 44,000 FORTIN LIMITED Direct Materials Budget - Year 2 Quarter Second Third 24,000 X 22,500X 21,000 2 2 48,000 45,000 42,000 4.500 X 4,200 X 4,400 52,500 49,200 46,400 (4,800) (4,500) (4,200) 47,700 X 44.700 X 42,200 X $ 95,400 X $ 89,400 X $ 84.400 X $ 179,000 4.800 Required production of lights Number of bulbs per light Total production needs-bulbs Add: Desired ending inventory-bulbs Total needsbulbs Less: Beginning inventory-bulbs Required purchasesbulbs Total cost of purchases 4,800 X 48,800 183,800 (4,400) (4,800) 44.400 X 179,000 X 88,800 X $ 358,000 X