Perine Company has 2,970 pounds of raw materials in its December 31, 2019, ending inventory. Required production for January and February of 2020 are 4,500 and 5,900 units, respectively. 3 pounds of raw materials are needed for each unit, and the estimated cost per pound is $6. Management desires an ending inventory equal to 22% of next month's materials requirements. Prepare the direct materials budget for January. PERINE COMPANY Direct Materials Budget V $ $ Direct Materials Per Unit Beginning Materials Inventory Total Cost of Direct Materials Purchases Direct Labor Time Per Unit Cost Per Pound Direct Labor Cost Per Hour Total Direct Labor Cost Units to be produced Total Required Direct Labor Hours Total Pounds Required for Production Direct Materials Purchases Total Materials Required Desired Ending Inventory