Richetti Industrial has estimated that production for the next five quarters will be:

Production Information
1st quarter, 2020		55,800 units
2nd quarter, 2020		50,400 units
3rd quarter, 2020		61,200 units
4th quarter, 2020		48,000 units
1st quarter, 2021		57,400 units

Finished units of production require 6 pounds of raw material per unit. The raw material cost is $7 per pound. There is $351,540 of raw material on hand at the beginning of the first quarter, 2020. Richetti 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 Richetti Industrial for 2020.

Richetti Industrial Direct Materials Purchases Budget For the Year Ending December 31, 2020
		Quarter 1		Quarter 2		Quarter 3		Quarter 4		Year
select an opening direct materials purchases budget item Cost of raw material needed for productionBeginning inventory of raw materialRequired raw material purchasesCost of raw material per unitUnits to be producedDesired ending inventory of raw materialTotal material needed		enter a number of units		enter a number of units		enter a number of units		enter a number of units		enter a number of units
select an item Beginning inventory of raw materialDesired ending inventory of raw materialCost of raw material per unitRequired raw material purchasesTotal material neededCost of raw material needed for productionUnits to be produced		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount
select a summarizing line for the first part Cost of raw material per unitUnits to be producedCost of raw material needed for productionRequired raw material purchasesBeginning inventory of raw materialTotal material neededDesired ending inventory of raw material		enter a total dollar amount for the first part		enter a total dollar amount for the first part		enter a total dollar amount for the first part		enter a total dollar amount for the first part		enter a total dollar amount for the first part
select between addition and deduction AddLess: select an item Beginning inventory of raw materialCost of raw material per unitRequired raw material purchasesTotal material neededUnits to be producedDesired ending inventory of raw materialCost of raw material needed for production		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount
select a summarizing line for the second part Required raw material purchasesTotal material neededDesired ending inventory of raw materialUnits to be producedCost of raw material needed for productionBeginning inventory of raw materialCost of raw material per unit		enter a total dollar amount for the second part		enter a total dollar amount for the second part		enter a total dollar amount for the second part		enter a total dollar amount for the second part		enter a total dollar amount for the second part
select between addition and deduction AddLess: select an item Beginning inventory of raw materialUnits to be producedRequired raw material purchasesDesired ending inventory of raw materialCost of raw material needed for productionCost of raw material per unitTotal material needed		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount
select a closing direct materials purchases budget item Required raw material purchasesUnits to be producedCost of raw material needed for productionTotal material neededCost of raw material per unitDesired ending inventory of raw materialBeginning inventory of raw material		$enter a total amount for the direct materials purchases budget		$enter a total amount for the direct materials purchases budget		$enter a total amount for the direct materials purchases budget		$enter a total amount for the direct materials purchases budget		$enter a total amount for the direct materials purchases budget