Juda Industries manufactures a popular interactive stuffed animal for children that requires three computer chips inside each toy. The company pays $2 for each computer chip. To help to guard against stockouts of the computer chip, Juda Industries has a policy that states that the ending inventory of computer chips should be at least 25% of the following month's production needs. The production schedule for the first four months of the year is as follows (Click the icon to view the production schedule) Requirement Prepare a direct materials budget for the first quarter that shows both the number of computer chips needed and the dollar amount of the purchases in the budget Juda Industries Direct Materials Budget For the Months of January through March Data table January February March Quarter Units to be produced 5300 4100 4200 13600 Stuffed animals to be produced Multiply by Quantity of direct materials needed per unit 3 3 Quantity needed for production 15900 12300 12600 40800 January..... February.... 5,300 4,100 Plus Desired ending inventory of direct materials 3975 3075 3150 3150 March 4,200 Total quantity needed 19875 15375 15750 43950 April 4,900 Less: Beginning inventory of direct materials Quantity to purchase Multiply by Cost per unit Total cost of direct material purchases Calculator Print Done Time Remaining; 01 2640 Juda Industries manufactures a popular interactive stuffed animal for children that requires three computer chips inside each toy. The company pays $2 for each computer chip. To help to guard against stockouts of the computer chip. Juda Industries has a policy that states that the ending inventory of computer chips should be at least 25% of the following month's production needs The production schedule for the first four months of the year is as follows (Click the icon to view the production schedule.) Requirement Prepare a direct material budget for the first quarter that shows both the number of computer chips needed and the dollar amount of the purchases in the budget CIES Juda Industries Direct Materials Budget Data table For the Months of January through March January February March Quarter Units to be produced 5300 4100 4200 13600 Stuffed animals to be produces Multiply by Quantity of direct materials needed per unit 3 3 :3 Quantity needed for production 15900 12300 12600 40800 January.... February 5.300 4.100 Plus Desired ending inventory of direct materials 3975 3075 3150 3150 March 4.200 Total quantity needed Quantity to purchase Multiply by: Cost per unit Total cost of direct material purchases 19875 15375 15750 43950 April 4.900 Less Beginning inventory of direct materials Print Done