Marx Industrial has estimated that production for the next five quarters will be: Production Information 1st quarter, 2020 38,700 units 2nd quarter, 2020 35,200 units 3rd quarter, 2020 42,200 units 4th quarter, 2020 32,800 units 1st quarter, 2021 40,300 units Finished units of production require 6 pounds of raw material per unit. The raw material cost is $7 per pound. There is $243,810 of raw material on hand at the beginning of the first quarter, 2020. Marx desires to have 15 percent of next quarter's material requirements on hand at the end of each quarter. Prepare quarterly direct materials purchases budgets for Marx Industrial for 2020. Marx Industrial Direct Materials Purchases Budget For the Year Ending December 31, 20 Quarter 2 Quarter 1