The Bakery at the Ocean produces organic bread that is sold by the loaf Each loaf requires 1l2 of a pound of flour The bakery pays $3 00 per pound otthe organic flour used in its loaves, The bakery expects to produce the tolloWing number of loaves in each of the upcoming four months a (Click the icon to yiewthe 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 ofJune, there were 154 pounds of flour on hand Prepare the direct materials budget for the third quarter With a column loreach month and forthe 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) The Bakery at the Ocean Direct Materials Budget For the Months of July through September Data table July August September Quarter Units to be produced Multiply by Pounds oftlour needed per unit JUIY ------------------- 1.540 lDaVES August ................ 1900 loaves Quantity needed (lbs) for production September ............. l,620 loaves Plus: Desired ending inventory of direct materials Total quantity (lbs) needed Less Beginning inventory of direct materials Quantity (lbs) to purchase Multiply by Cost per pound Total cost ofdirect material purchases