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Uli Industrial has estimated that production for the next five quarters will be: Production Information 1st quarter, 2020 47,700 units 2nd quarter, 2020 43,200 units 3rd quarter, 2020 52,200 units 4th quarter, 2020 40,800 units 1st quarter, 2021 49,300 units Finished units of production require 6 pounds of raw material per unit. The raw material cost is $7 per pound. There is $300,510 of raw material on hand at the beginning of the first quarter, 2020. Uli 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 Uli Industrial for 2020. Uli Industrial Direct Materials Purchases Bu For the Year Ending December 31 Quarter 2 Quarter 1 Units to be produced 286200 259200 Cost of raw material per unit $ 7 7 Cost of raw material needed for production 2003400 1814400 Add V: Desired ending inventory of raw material 272160 328860 Total material needed 2275560 2143260 Less Beginning inventory of raw material 300510 i 272160 Required raw material purchases 1975050 1871100 Budget r 31, 2020 Quarter 3 Quarter 4 Year 313200 244800 1103400 $ 7 $ 7 $ 7 2192400 1713600 7723800 257040 310590 310590 2449440 2024190 8034390 328860 i 257040 i 300510 i $ $ 2120580 $ 1767150 ta 7733880