Question 2 DeWitt Industries has adopted the following production budget for the first 4 months of 2017 5,370 4,420 10,390 March 8,290 April February Each unit requires 4 pounds of raw materials costing $2 per pound. On December 31, 2016, the ending raw materials inventory was 8,312 pounds. Management wants to have a raw materials inventory at the end of the month equal to 20% of next month's production requirements. Prepare a direct materials purchases budget by month for the first quarter DEWITT INDUSTRIES Direct Materials Purchases Budget For the Quarter Ending March 31, 2017 January February March Units to be Produced