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 $3.00 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 10% of the following month's flour needs on hand at the end of each month. At the end of June, there were 73 pounds of flour on hand. Prepare the direct materials budget for the third quarter, with a column for each month and for the quarter. FISID 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 - X Data Table July August September Quarter Units to be produced Multiply by: Pounds of flour needed per unit July 1,460 loaves Quantity needed (lbs) for production August 1,840 loaves Plus Desired ending inventory direct materials September 1,640 loaves Total quantity (lbs) needed October Less: Beginning Inventory of direct materials Quantity (lbs) to purchase Multiply by: Cost per pound Print Done 1.540 loaves Total cost of direct material purchases