The following facts are known: . The total pounds needed for production are 2 times the units to be produced. The desired ending direct materials inventory in pounds is 20% of the total pounds needed for production. The beginning direct materials inventory in pounds is equal in number to 10% of the units to be produced. Cost per pound is $5. The total cost of the direct materials purchases is $1,060,300. Prepare a direct materials budget for the period. Units to be produced Direct materials per unit Total pounds required for production Add : Desired ending direct materials inventory Total materials required Less : Beginning direct materials inventory Cost per pound-