On January 1, 2022, the Sheffield Company budget committee has reached agreement on the following data for the 6 months ending June 30,2022 10,220 The ending raw materials and finished goods inventories at December 31,2021 , follow the same percentage relationships to production and sales that occur in 2022. Three pounds of raw materials are required to make each unit of finished goods. Raw materials purchased are expected to cost $4 per pound. SHEFFIELD COMPANY Production Budget For the Six Months Ending June 30, 2022 Quarter Direct Materials Budget Quarter 12 Desired Ending Direct Materials (Pounds) $ Total Cost of Direct Materials Purchase