On January 1, 2020, the Hardin Company budget committee has reached agreement on the following data for the 6 months ending June 30, 2020 Sales units: Ending raw materials inventory: Ending finished goods inventory: Third-quarter production: First quarter 5.000; second quarter 6,900; third quarter 7,300. 40% of the next quarter's production requirements. 25% of the next quarter's expected sales units. 7.360 units. The ending raw materials and finished goods inventories at December 31, 2019, follow the same percentage relationships to production and sales that occur in 2020.3 pounds of raw materials are required to make each unit of finished goods. Raw materials purchased are expected to cost $6 per pound. Prepare a direct materials budget by quarters for the 6-month period ended June 30, 2020. HARDIN COMPANY Direct Materials Budget For the Six Months Ending June 30, 2020 Quarter 1 2 Units to be produced 5425 6100 Direct Materials Per Unit 3 3 Total Pounds Needed for Production 16425 18300 Add : Desired Ending Direct Materials (Pounds). 7320 Total Materials Required 23745 27132 6570 i 7320 Less :: Beginning Direct Materials (Pounds) 17175 19812 Direct Materials Purchases 8 $ Cost Per Pound $ 103050 $ 118872 a Total Cost of Direct Materials Purchases