The Bakery at the Lake produces organic bread that is sold by the loaf. Each loaf requires 1/2 of a pound of flour. The bakery pays $2.00 per pound of the organic flour used in its loaves. The bakery expects to produce the following number of loaves in each of the upcoming four months (Click the icon to view the units to be produced) The bakery has a policy that it will have 20% of the following month's flour needs on hand at the end of each month. At the end of June, there were 148 pounds of flour on hand. Prepare the direct materials budget for the third quarter, with a column for each month and for the quarter. Begin the direct materials budget by determining the total quantity needed, then complete the budget. (Enter the pounds per unit as a decimal to two places. Round your calculations to the nearest whole number) 6 The Bakery at the Lake - Data Table X Direct Materials Budget For the Months of July through September July August September Quarter July 1,480 loaves Units to be produced August 1.840 loaves September 1,610 loaves Multiply by Pounds of four needed per unit October 1,500 loaves Quantity needed (s) for production Enter any number in the edit fields and then continue to the next question Print Done The Bakery at the Lake produces organic bread that is sold by the loaf. Each loaf requires 1/2 of a pound of flour. The bakery pays $2.00 per pound of the organic flour used in its loaves. The bakery expects to produce the following number of loaves in each of the upcoming four months (Click the icon to view the units to be produced.) The bakery has a policy that it will have 20% of the following month's flour needs on hand at the end of each month. At the end of June, there were 148 pounds of flour on hand. Prepare the direct materials budget for the third quarter, with a column for each month and for the quarter. Units to be produced Multiply by: Pounds of flour needed per unit Quantity needed (lbs) for production 0 Data Table Plus: Desired ending inventory of direct materials Total quantity (lbs) needed Less: Beginning inventory of direct materials July 1,480 loaves Quantity (lbs) to purchase August 1,840 loaves Multiply by: Cost per pound September. ......... 1,610 loaves Total cost of direct material purchases October 1.500 loaves Enter any number in the edit fields and then continue to the next question Print Done