Perine Company has 5,220 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. 4 pounds of raw materials are needed for each unit, and the estimated cost per pound is $7. Management desires an ending inventory equal to 29% of next month's materials requirements. Prepare the direct materials budget for January PERINE COMPANY Direct Materials Budget January 31, 2020 Units to be produced 4500 Direct Materials Per Unit Total Pounds Required for Production Add Desired Ending Inventory Total Materials Required Less Beginning Materials Inventory Direct Materials Purchases Cost Per Pound Total Cost of Direct Materials Purchases