The production budget for Juno & Jones, Inc. shows the company expects to produce 460 units in the first quarter and 680 units in the second quarter. Each unit will require 7 pounds of direct materials at a cost of $2.10 per pound. The company prefers to maintain raw materials inventory equal to 40% of the next quarters materials needs. Prepare a production budget for the first quarter. Juno & Jones, Inc. Direct Materials Budget First Quarter Budgeted units to be produced 460 Pounds of materials required per unit 7 Total pounds of materials needed in production 3220 Plus desired ending inventory in pounds Total direct materials needed Less pounds of materials in beginning inventory Total Pounds of Direct Materials to be purchased Cost of materials per pound Total cost of materials to be purchased