Novak Manufacturing manufactures two products, (1) Regular and (2) Deluxe. The budgeted units to be produced are as follows: Units of Product 2022 Regular Deluxe Total July 11,600 15.100 26,700 August 5,300 10,600 15,900 September 8,800 13,600 22,400 October 7.600 12,200 19,800 It takes 2 pounds of direct materials to produce the Regular product and 6 pounds of direct materials to produce the Deluxe product. It is the company's policy to maintain an inventory of direct materials at the end of each month equal to 30% of the next month's production needs for the Regular product and 20% of the next month's production needs for the Deluxe product. Direct materials inventory on hand at June 30 were 6,960 pounds for the Regular product and 18,120 pounds for the Deluxe product. The cost per pound of materials is $6 for the Regular product and $8 for the Deluxe Prepare separate direct materials budgets for each product for the third quarter of 2022. Prepare separate direct materials budgets for each product for the third quarter of 2022 NOVAKMANUFACTURING Direct Materials Budget-Regular For the Year Ended September 30, 2022 July August 5300 to be produced 1 11600 2 2 tmaterials per unit pounds needed for production 23200 10600 Desired ending direct materials inventory pounds of direct materials required Beginning direct materials inventory sted direct materials purchases $ Per pound July August Units to be produced Direct materials per unit Total pounds needed for production Add Desired ending direct materials invertory Total pounds of direct materials required Beginning direct materials inventory Budgeted direct materials purchases $ Cost per pound Budgeted cost of direct materials purchases