Question 8 of 10 - /25 View Policies Current Attempt in Progress Oak Industrial has estimated that production for the next five quarters will be: Production Information 1st quarter, 2020 44,100 units 2nd quarter, 2020 40,000 units 3rd quarter, 2020 48,200 units 4th quarter, 2020 37,600 units 1st quarter, 2021 45,700 units Finished units of production require 6 pounds of raw material per unit. The raw material cost is $7 per pound. There is $277,830 of raw material on hand at the beginning of the first quarter, 2020. Oak desires to have 15 percent of next quarter's material requirements on hand at the end of each quarter. Prepare quarterly direct materials purchases budgets for Oak Industrial for 2020.Oak Industrial Direct Materials Purchases Budget For the Year Ending December 31, 20 Quarter 1 Quarter 2 v V vOak Industrial Direct Materials Purchases Budget the Year Ending December 31, 2020 Quarter 2 Quarter 3 Quarter 4 Year