Q5 The budget components for Chapa Company for the quarter ended June 30 appear below. Chapa sells speakers for $12 each. Budgeted sales and production for the next three months are: Sales Production April 40,000 units 52,000 units May 100,000 units 92,000 units June 60,000 units 58,000 units Chapa desires to have speakers on hand at the end of each month equal to 20 percent of the following month's budgeted sales in units. On March 31, Chapa had 8,000 completed units on hand. The number of speakers to be produced in April and May are 52,000 and 92,000, respectively. Seven pounds of plastic are required for each speaker. At the end of each month, Chapa desires to have 10 percent of the following month's production material needs on hand. At March 31, Chapa had 36,400 pounds of plastic on hand. The materials used in production cost $0.60 per pound. Each speaker produced requires 0.10 hours of direct labor. Instructions Determine how much the materials purchases budget will be for the month ending April 30