The production department of Zan Corporation has submitted the following forecast of units to be produced by quarter for the upcoming fiscal year: Units to be produced 1st 2nd 3rd 4th Quarter Quarter Quarter Quarter 6,600 9,600 8,600 7,600 In addition, 7,600 grams of raw materials inventory is on hand at the start of the 1st quarter and the beginning accounts payable for the 1st quarter is $4,480. Each unit requires 9.60 grams of raw material that costs $1.40 per gram. Management desires to end each quarter with an inventory of raw materials equal to 30% of the following quarter's production needs. The desired ending inventory for the 4th quarter is 9,600 grams. Management plans to pay for 50% of raw material purchases in the quarter acquired and 50% in the following quarter. Each unit requires 0.30 direct labour-hours and direct labourers are paid $8.30 per hour. Required: 1. Prepare the company's direct materials purchases budget and schedule of expected cash disbursements for materials for the upcoming fiscal year. Beginning accounts payable 1st Quarter purchases 2nd Quarter purchases Schedule of Expected Cash Disbursements for Materials $ 4,480 $ 4,480 58,386 $ 58,386 116,771 X 62,496 $ 62,496 124,992 3rd Quarter purchases 4th Quarter purchases Total cash disbursements for materials 55,776 $ 55,776 111,552 42,470 X 42,470 X $ *Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no points deducted. 62,866 $ 120,882 $ 118,272 $ 98,246 $ 400,265