Johnson industries manufactures a popular interactive stuffed animal for children that requires two computer chips inside each toy. The company pays $3 for each computer chip. To help to guard against stock out of the computer chip. Johnson industries has a policy that states that the ending inventory of computer chips should be at least 30% of the following months production needs. The production for the first four months of the year is as follows Prepare a direct meterials budget for the first quarter that shows both the number of computer chips needed and the dollar amount of the purchases in the budget Prepare the direct materials budget by first calculating the total quartile needed, than complete the budget