Sheffield Company has 2,520 pounds of raw materials in its December 31, 2021, ending inventory. Required production for January and February of 2022 are 5,040 and 6,300 units, respectively. Two pounds of raw materials are needed for each unit, and the estimated cost per pound is $8. Management desires an ending inventory equal to 25% of next month's materials requirements. Prepare the direct materials budget for January. SHEFFIELD COMPANY Direct Materials Budget For the Month Ending January 31, 2022 Total Pounds Required for Production Direct Materials Units to be Purchased Total Pounds Required for Production Add Desired Ending Inventory Pounds Total Materials Required Less : Beginning Materials Inventory Direct Labor Time Per Unit Direct Materials Pounds Per Unit $ Total Pounds Required for Production $