The Bakery at the Ocean 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: EEB (Click the icon to view the units to be produced.) The bakery has a policy that it will have 10% of the following month's flour needs on hand at the end of each month. At the end of June, there were 78 pounds of flour on hand. Prepare the direct materials budget for the third quarter, with a column for each month and for the quarter. 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 1,560 loaves 1,840 loaves 1,620 loaves 1,560 loaves July s of flourn August Quantity needed (Ibs) for production Plus: Desired ending inventory of direct materials Total quantity (Ibs) needed Less: Beginning inventory of direct materials Quantity (lbs) to purchase Multiply by: Cost per pound Total cost of direct material purchases October Print Done Enter any number in the edit fields and then continue to the next