Please show all your work including the production budget and direct materials budget.

E9.7 (LO 2), AP Rensing Ltd. estimates sales for the second quarter of 2020 will be as follows Calculate raw materials purchases in dollars Month Units 2,550 April May 2,675 June 2,390 The target ending inventory of finished products is as follows 2,000 March 31 April 30 May 31 2,230 2,200 June 30 2,310 Two units of material are required for each unit of finished product Production for July is estimated at 2,700 units to start building inventory for the fall sales period. Rensing's policy is to have an inventory of raw materials at the end of each month equal to 50% of the following month's production requirements. Raw materials are expected to cost $4 per unit throughout the period. Instructions Calculate the May raw materials purchases in dollars