Test Company projected the following unit sales for the next five quarters. Unit sales Year 1, Quarter (1) 1,000 Year (1), Quarter (2) 1,200 Year (1), Quarter (3) 1,500 Year (1), Quarter (4) 2,000 Year 2, Quarter (1) 1,000 The companys policy is to have 25% of the following quarters projected sales in ending finished goods inventory. The beginning inventory in Year 1 is expected to satisfy the inventory policy. Each unit required 2 lbs. of direct materials. Projected direct materials cost is $5.00 per lb. The companys policy is to have 20% of the following quarters production needs in ending raw materials inventory. The beginning inventory in Year 1 is expected to satisfy the inventory policy. Determine the budgeted cost of direct materials purchases for Year 1, Quarter 1.