Margaret Joseph, Bramble & Thomas 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 24,000 7.000 31,000 3,000 28,000 February 28,000 7.500 35,500 7,000 28,500 March 30,000 9,500 39,500 7.500 Quarter 82,000 9,500 91.500 3,000 32,000 88,500 Budgeted sales for Aprilis 38,000 units and for May is 26,000 units. Each brick requires 6 pounds of clay, and Margaret expects to pay $150 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 25% of the following month's sales volume. Margaret expects to have 15,000 pounds of clay at a cost of $22,500 in inventory at the beginning of the year Prepare Bramble & Thomas's direct materials purchases budget for the first quarter. (Enter price per pound to 2 decimal places, e.g. 52.75.) January March February 28500 Budgeted production 28000 32000 Standard pounds per unit Production needs 168000 171000 192000 Budgeted ending inventory Total DM required (lbs.) Beginning inventory Budgeted purchases (lbs.) Standard cost per pound 1.5 1.5 $ $ $ $ $ Budgeted purchases cost $ Prepare Bramble & Thomas's direct materials purchases budget for the first quarter. (Enter price per pound to 2 decimal places, e.g. 52.75.) January February March Quarter 28000 28500 32000 88500 6 168000 171000 192000 531000 15 115 1.5