Kimberly Matthew, Sheffield & Gary Fabricators' purchasing manager, has just received the company's production budget for the first quarter. Budgeted unit sales + Budgeted ending inventory Total units required - Beginning inventory Budgeted production January 22,000 5,600 27,600 3,500 24,100 February 28,000 6,400 34,400 5,600 28,800 March 32,000 7,200 39,200 6,400 32,800 Quarter 82,000 7,200 89,200 3,500 85,700 Budgeted sales for April is 36,000 units and for May is 26,000 units. Each brick requires 6 pounds of clay, and Kimberly expects to pay $1.50 per pound of clay in the coming year. Company policy requires an ending direct materials inventory each month that will meet 10% of the following month's production needs. Company policy requires an ending finished goods inventory each month that will meet 20% of the following month's sales volume. Kimberly expects to have 15,000 pounds of clay at a cost of $22,500 in inventory at the beginning of the year. Prepare Sheffield & Gary's direct materials purchases budget for the first quarter. (Enter price per pound to 2 decimal places, e.g. 52.75.) January February March Budgeted production Standard pounds per unit Production needs Budgeted ending inventory Total DM required (lbs.) Beginning inventory Budgeted purchases (lbs.) Standard cost per pound $ $ $ $ $ $ $ Budgeted purchases cost January February March Quarter $ $ LA $ LA $ $ $ LA $ $ $