Marcy Jones, Bonita & Hill Fabricators' purchasing manager, has just received the company's production budget for the first quarter. January February March Quarter 53.290 Budgeted Production 11,066 22.342 19,882 Budgeted sales of Aprilis 16,820 and its beginning inventory is 2,018. May month budgeted sales is 13.340. Company policy requires an ending finished goods inventory each month that will meet 12% of the following month's sales volume. Each brick requires 3.00 pounds of clay. and Marcy expects to pay $0.23 per pound of clay in the coming year. Company policy requires an ending direct materials inventory each month that will meet 6% of the following month's production needs. Marcy expects to have 10,962 pounds of clay at a cost of $4,385 in inventory at the beginning of the year. Prepare Bonita & Hill's direct materials purchases budget for the first quarter. (Round answers to decimal places, e.g. 5,275 and enterprice per pound to 2 decimal places, e.g. 52.75.) January February March Quarter Budgeted production 11056 22342 19882 53290 Standard cost per pound Production needs 33198 67026 59646 159870 Budgeted ending Inventory 8043 7158 5905 5905 Total DM required (lbs.) 41241 74184 65551 165775 Beginning Inventory 109621 8043 7158 10962 1 Budgeted purchases (lbs.) | 30279 65140 58394 154813 Standard cost per pound 0.23 $ 0.23 $ 0.23 $ 0.23 Budgeted purchases cost 15212 5 13431 51 35607