Graver Industries has budgeted the following unit sales: The finished goods units on hand on December 31, 2021 was 2,000 units. Each unit of finished goods requires 3 pounds of direct materials that are estimated to cost an average of $4 per pound. It is the company's policy to maintain a finished goods inventory at the end of each month equal to 20% of next month's anticipated sales. The company also has a policy of maintaining a direct materials inventory at the end of each month equal to 30% of the pounds needed for the following month's production. There were 8,640 pounds of direct materials on hand at December 31,2021. nstructions or the first quarter of 2022, prepare (1) a production budget and (2) a direct materials budget