The budget director of Gold Medal Athletic Co., with the assistance of the controller, treasurer, production manager, and sales manager, has gathered the following data for use in developing the budgeted income statement for March 2014: a. Estimated sales for March: Batting helmet.......... .. . .. . .. .. .......1,200 units at $40 per unit 6,500 units at $160 per unit b. Estimated inventories at March 1: Direct materials: Finished products: 90 lbs 80 lbs. Plastic 40 units at $25 per unit Batting helmet Football helmet.......240 units at $77 per unit c. Desired inventories at March 31: Direct materials: Finished products: 50 lbs 65 lbs. Batting helmet......... Football helmet........ 50 units at $25 per unit 220 units at $78 per unit Foam lining. d. Direct materials used in production: In manufacture of batting helmet: Foam lining 0.50 lb. per unit of product In manufacture of football helmet: Plastic Foam lining............ .. .. .. 3.50 lbs. per unit of product .. .. ........1.50 lbs. per unit of product .. .. e. Anticipated cost of purchases and beginning and ending inventory of direct materials Plastic $6.00 per lb