Requirement 3. Prepare a direct materials budget. (Round your answers to the nearest whole dollar.) Conrad Manufacturing Direct Materials Budget For the Quarter Ended March 31 More info a. Actual sales in December were $76,000. Selling price per unit is projected to remain stable at $9 per unit throughout the budget period. Sales for the first five months of the upcoming year are budgeted to be as follows: b.Sales are 30% cash and 70% credit. All credit sales are collected in the month following the sale. c. Conrad Manufacturing has a policy that states that each month's ending inventory of finished goods should be 10% of the following month's sales (in units). d. Of each month's direct material purchases, 20% are paid for in the month of purchase, while the remainder is paid for in the month following purchase. Two pounds of direct material is needed per unit at $1.50 per pound. Ending inventory of direct materials should be 20% of next month's production needs. e. Most of the labor at the manufacturing facility is indirect, but there is some direct labor incurred. The direct labor hours per unit is 0.03 . The direct labor rate per hour is $13 per hour. All direct labor is paid for in the month in which the work is performed. The direct labor total cost for each of the upcoming three months is as follows: f. Monthly manufacturing overhead costs are $6,500 for factory rent, $2,900 for other fixed manufacturing expenses, and $1.40 per unit for variable manufacturing overhead. No depreciation is included in these figures. All expenses are paid in the month in which theus are incurred Data table Requirement 1. Prepare a schedule of cash collections for January, February, and March, and for the quarter in total. Requirement 2. Prepare a production budget. (Hint: Unit sales = Sales in dollars + Selling price per unit.) Conrad Manufacturing Production Budget For the Quarter Ended March 31 Requirement 3. Prepare a direct materials budget. (Round your answers to the nearest whole dollar.)