Perine Company has 4,048 pounds of raw materials in its December 31,2019 , ending inventory. Required production for January and February of 2020 are 4,400 and 6,100 units, respectively. 4 pounds of raw materials are needed for each unit, and the estimated cost per pound is $9. Management desires an ending inventory equal to 23% of next month's materials requirements. Prepare the direct materials budget for January. Perine Company has 4,048 pounds of raw materials in its December 31,2019, ending inventory. Required production for January and February of 2020 are 4,400 and 6,100 units, respectively. 4 pounds of raw materials are noeded for each unit, and the estimated cost per pound is $9. Management desires an ending inventory equal to 23% of next month's materials requirements. Prepare the direct materials budget for January