respectively. Also, the following information is given - At Royal Company, five pounds of material are required per unit of product. - Management wants materials on hand at the end of each month equal to 10% of the following month's production. - Production of July is assumed to be 30,000 units On March 31,13,000 pounds of material are on hand. Material cost is $0.40 per pound a- Prepare the Direct material budget (12 points)