Marigold, Inc. produces pellets for cornhole bags from plastic resin which it sells by the pound. Marigold has estimated production and sales of pellets in pounds for the next 2 months as: May June Estimated production 45,000 47,500 Estimated sales $2,500 36,700 Each pound of pellets requires 0.30 pounds of resin. The cost of resin is $5.00 per pound. Marigold wants to have 30% of the next month's direct materials requirements on hand at the end of each month. Prepare a direct materials purchases budget for the month of May. (Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses eg. (45). Round pounds needed per unit to 1 decimal palce and cost per pound to two decimal palces.) MARIGOLD, INC. Direct Materials Purchases Budget Pounds of resin needed per pound of pellets Total pounds of resin needed for production Month of May Add : Ending direct materials inventory desired Less Beginning direct materials inventory Cost per pound of resin Estimated production in pounds of pellets for May 5.00