Sheffield Company has 2,996 pounds of raw materials in its December 31, 2016, ending inventory. Required production for January and February of 2017 are 4,540 and 6,000 units, respectively. 3 pounds of raw materials are needed for each unit, and the estimated cost per pound is $7. Management desires an ending inventory equal to 22% of next month's materials requirements. Prepare the direct materials budget for January. (Round intermediate calculations and final answer to decimal places, eg 5,275.) SHEFFIELD COMPANY Direct Materials Budget $ $