Saved Help Two grams of musk oil are required for each bottle of Mink Caress, a very popular perfume made by a small company in western Siberia. The cost of the musk oil is $1.60 per gram. Budgeted production of Mink Caress is given below by quarters for Year 2 and for the first quarter of Year 3: Year 2 First Second Third Fourth 76,000 106,000 166,000 116,000 Budgeted production, in bottles Year 3 First B6,000 Musk oil has become so popular as a perfume ingredient that it has become necessary to carry large inventories as a precaution against stock-outs. For this reason, the inventory of musk oil at the end of a quarter must be equal to 20% of the following quarter's production needs. Some 30,400 grams of musk oil will be on hand to start the first quarter of Year 2. Required: Prepare a direct materials budget for musk oll, by quarter and in total, for Year 2. 5 Mink Caress Direct Materials Budget - Year 2 Quarter First Second Required production in units of finished goods 76,000 106,000 Units of raw materials needed per unit of finished goods 2 2. Units of raw materials needed to meet production 152,000 212,000 Year Third 166,000 21 332,000 Fourth 116,000 2 232.000 Total units of raw materials needed Units of raw materials to be purchased Unit cost of raw materials Cost of raw materials to purchased