Moonpennies Inc. makes and sells snowboards. Each longjohn uses 2 1/2 kgs of fibreglass. Budgeted production of snowboards in units for the next five months is as follows: May June July August September Budgeted production 32,000 28,000 26,000 24,000 22,000 The company wants to maintain monthly ending inventories of fibreglass equal to 15% of the following month's budgeted production needs. The cost of fibreglass is $3.50 per kg. Prepare a direct materials purchases budget for the month of July