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Margaret Joseph, Bramble & Thomas Fabricators' purchasing manager, has just received the company's production budget for the first quarter. Budgeted sales for April is 38,000

image text in transcribed Margaret Joseph, Bramble \& Thomas Fabricators' purchasing manager, has just received the company's production budget for the first quarter. Budgeted sales for April is 38,000 units and for May is 26,000 units. Each brick requires 6 pounds of clay, and Margaret 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 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.)

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