Osbome industries manufactures a popular interactive stufed animal for children that requires four computor chips inside each toy. The company pays $2 for each computer chle. To help to guard against stockouts of the computer chip, Osborne Industries has a policy that states that the ending imentory of computer chips should be at least 30% of the foltowing monff's production neods. The production schedule for the fint four months of the year is as follows: View the production schedvie. Requirement Prepare a direct materials budget for the first quarter that shows boen the number of computer chips needed and the dollar amount of the purchases in the budget. Prepare the direct materials budget by firs caloulating the total quanthy needed, then complete the budget Production schedule Osbome industries manufactures a popular interactive stufed animal for children that requires four computor chips inside each toy. The company pays $2 for each computer chle. To help to guard against stockouts of the computer chip, Osborne Industries has a policy that states that the ending imentory of computer chips should be at least 30% of the foltowing monff's production neods. The production schedule for the fint four months of the year is as follows: View the production schedvie. Requirement Prepare a direct materials budget for the first quarter that shows boen the number of computer chips needed and the dollar amount of the purchases in the budget. Prepare the direct materials budget by firs caloulating the total quanthy needed, then complete the budget Production schedule Prepare the direct materials budget by first calculating the total quantity needed, then complete the budget. amount of the purchases in the budget. Production schedule