Question 20 Perine Company has 2,970 pounds of raw materials in its December 31, 2019, ending inventory. Required production for January and February of 2020 are 4,500 and 6,000 units, respectively. 3 pounds of raw materials are needed for each unit, and the estimated cost per pound is $7. Management desires an ending inventory equal to 22% of next month's materials requirements. Prepare the direct materials budget for January. PERINE COMPANY Direct Materials Budget Click if you would like to Show Work for this question: . Shorwos