Sheridan Company has 1,760 pounds of raw materials in its December 31, 2021, ending inventory. Required production for January and February of 2022 are 3,520 and 4,400 units, respectively. Two pounds of raw materials are needed for each unit, and the estimated cost per pound is $6. Management desires an ending inventory equal to 25% of next months materials requirements. Prepare the direct materials budget for January.

SHERIDAN COMPANY Direct Materials Budget For the Month Ending January 31, 2022 Units to be Produced Direct Materials Pounds Per Unit Total Pounds Required for Production Add Desired Ending Inventory Pounds Total Materials Required Less : Beginning Materials Inventory Direct Materials Units to be Purchased Cost Per Pound \begin{tabular}{l} $ \\ \hline \\ \hline \\ \hline \end{tabular}