Production Budget and Direct Materiais Purchases Budgets Peanut Land Ine: produces all-natural organic peanut butter. The peanut butter is sold in 12-ounce jars. The sales budget for the first 4 months of the year is as follows: Company palicy requires that ending inventories for each month be 25% of next month's sales. At the beginning of January, the inventory of peanut buttar is 9,300 jars. Each jar of peanut butter needs two raw materials: 24 ounces of peanuts and one jar set (a glass jar and lid)), Cornpany policy requires that ending inventories of raw materials for each month be 10\% of the next month's production needs. That policy was met on January 1. 2. Prepare a direct materials purchases budget for jars for the months of January and February. repare a direct materials purchases budget for peanuts for the months of January and February