Oriole Industries has adopted the following production budget for the first 4 months of 2022. Month Units Month Units January 10,400 March 5,200 February 8,320 April 4,160 Each unit requires 3 pounds of raw materials costing $4 per pound. On December 31, 2021, the ending raw materials inventory was 6,240 pounds. Management wants to have a raw materials inventory at the end of the month equal to 20% of next month's production requirements. Prepare a direct materials purchases budget by month for the first quarter. ORIOLE INDUSTRIES Direct Materials Purchases Budget For the Quarter Ending March 31, 2022 January February Units to be Produced 10400 8320 Direct Materials Per Unit 3 3 Total Pounds Needed for Production 31200 24960 Add Desired Ending Direct Materials (Pounds) Total Materials Required Less Beginning Direct Materials (Pounds) Direct Materials Purchases Cost Per Pound $ Total Cost of Direct Materials Purchases $