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5 DeWitt Industries has adopted the following production budget for the first 4 months Prepare a direct materials purchases budget (LO 2), AP E9- of 2017. Month Units January 10,000 February 8,000 Month Units March 5,000 April 4,000 Each unit requires 2 pounds of raw materials costing $3 per pound. On December 31 2016, the ending raw materials inventory was 4,000 pounds. Management wants to have a raw materials inventory at the end of the month equal to 20% of next month's production requirements Instructions Prepare a direct materials purchases budget by month for the first quarter