Question 4 of 9 KERE - / 1 View Policies Current Attempt in Progress Marcy Jones, Sheffield & Hill Fabricators' purchasing manager, has just received the company's production budget for the first quarter. January February March Quarter Budgeted Production 15,593 29,568 26,257 71,418 Budgeted sales of April is 22,330 and its beginning inventory is 3,350. May month budgeted sales is 17,710. Company policy requires an ending finished goods inventory each month that will meet 15% of the following month's sales volume. Each brick requires 4.00 pounds of clay, and Marcy expects to pay $0.31 per pound of clay in the coming year. Company policy requires an ending direct materials inventory each month that will meet 8% of the following month's production needs. Marcy expects to have 14,553 pounds of clay at a cost of $5,821 in inventory at the beginning of the year. Prepare Sheffield & Hill's direct materials purchases budget for the first quarter. (Round answers to decimal places, e.g. 5,275 and enterprice per pound to 2 decimal places, e.g. 52.75.) January February March Quarter Illat will meet 8% of the following month's production needs. Marcy expects to have 14.553 pounds of clay at a cost of $5,821 in inventory at the beginning of the year. Prepare Sheffield & Hill's direct materials purchases budget for the first quarter. (Round answers to 0 decimal places, e.g. 5,275 and enter price per pound to 2 decimal places, e.g. 52.75.) January February March Quarter $ $ $ $ $ $ e Textbook and Media