Production Budget and Direct Materials Purchases Budgets Pranut Land Ine. produces all-natural organic peanut butter. The peinut butter is sold in 12-ounce jars. The sales budget for the first four months of the year is as folionsi Company policy requires that ending inventories for each month be 15% of next month's sales. At the beginning of 3 anuary, the inventory of peanut butter is 33,000 jars. Each jar of peanut butter needs two raw mateciols: 24 ounces of peanuts and one jar Company policy requires that ending anventones of row materials for each month be 204 of the next monthis production needs. That policy was met on January 1. Required: Prepare a direct materials purchases budget for peanuts for the months of January and February