The production department of Hareston Company has submitted the following forecast of units to be produced by quarter for the upcoming fiscal year: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Units to be produced 4,000 5,000 6,000 3,000 -------------------------------------------------------------------------------- In addition, the beginning raw materials inventory for the first quarter is budgeted to be 4,000 pounds and the beginning accounts payable for the first quarter is budgeted to be $7,600. Each unit requires four pounds of raw material that costs $3 per pound. Management desires to end each quarter with an inventory of raw materials equal to 25% of the following quarter's production needs. The desired ending inventory for the fourth quarter is 2,250 pounds. Management plans to pay for 70% of raw material purchases in the quarter acquired and 30% in the following quarter. Each unit requires 0.75 direct labor-hours and direct labor-hour workers are paid $13 per hour. Requirement 1: (a) Prepare the company's direct materials budget. (Input all amounts as positive values. Omit the "$" sign in your response.) Hareston Company Direct Materials Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Production needs (Click to select)AddLess: Desired ending inventory Total needs (Click to select)AddLess: Beginning inventory Raw materials to be purchased Cost of raw materials to be purchased $ $ $ $ $ --------------------------------------------------------------------------------