Sheridan Industries has adopted the following production budget for the first 4 months of 2022. Month Units Month Units January 11,400 March 5,700 February 9,120 April 4,560 Each unit requires 3 pounds of raw materials costing $4 per pound. On December 31, 2021, the ending raw materials inventory was 6,840 pounds. Management wants to have a raw materials inventory at the end of the month equal to 20% of next month's production requirements. Prepare a direct materials purchases budget by month for the first quarter. SHERIDAN INDUSTRIES Direct Materials Purchases Budget January February > > > > $ $ $ $ TA $ $ $