Problem $8$

Miken Sports Inc, produces high end basketballs designed for outdoor use. Each ball requires $0\mathrm{.}5$ pounds of rubber composite. The leather costs $$12$ per pound. Budgeted production of baseball gloves for $2023$ and for the first quarter of $2024$ are below:

$\backslash$table$[[,2023,2024],[$Production Balls,Q$1,$Q$2,$Q$3,$Q$4,$Q$1]]$

To avoid stock$-$outs, Miken Sports require the end of quarter inventory of rubber composite to equal $15\%$ of the following quarter's production needs. $25$ pounds of rubber composite will be on hand to start the first quarter of $2023.$

Required:

Prepare a direct materials purchasing budget $($in pounds$),$ by quarter and in total for $2023.$

As the bottom of your budget, show the amount of purchases for each quarter $($in dollars$)$ and for the year in total.