Q1: Sit Straight makes bookends. Metal is stamped and bent to form the bookend and felt is glued to the bottom to keep the bookends from sliding on surfaces. Each set of bookends requires five ounces of metal ($0.20 per ounce) and two pieces of pre-cut felt ($0.03 per 10 pieces). Sit Straight wants to have a desired ending inventory of 10 percent of the following month's sales needs relative to finished goods and 15 percent of the following production month's needs relative to direct materials. The company's 2010 second and third quarter sales budgets for sets of bookends follows: April May June July August September 25,000 20,000 38,000 35,000 40,000 21,000 Sit Straight expects to begin April with 2,400 sets of bookends, 18,500 ounces of metal, and 7,250 pieces of felt. Required: Prepare the production and purchases budgets for the second quarter of 2010. a) What is the total purchases cost in April? b) What is the cost for metal in June? c) What is the cost for felt in May