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Master Budget Carlton Cookie Company produces a hand-processed gourmet cookie that is made with organic sugar. Five (5) pounds of organic sugar are required per batch of gourmet cookies. The organic sugar costs $2.40 per pound. The company needs to have 20% of the following month's production needs of organic sugar in ending inventory so it is on hand to start each month. A total of 120 pounds of organic sugar are expected to be on hand on January 1. Budgeted production of the gourmet cookies for the first four months of the upcoming year is as follows: Batches of Cookies to be Produced each Month anuary 500 March650 700 February ri 600 Required: Prepare a direct materials budget for organic sugar for each of the months in the first quarter and for the first quarter in total. Include both the quantity of sugar to be purchased and the cost of the purchases in each month