The Tori Company had budgeted production for the year as follows: Quarter 1 2 3 4 Production in units 10,500 12,500 18,400 14,500 Five pounds of raw materials are required for each unit produced. Raw materials on hand at the start of the year total 4,500 lbs. The raw materials inventory at the end of each quarter should equal 20% of the next quarter's production needs in materials. Budgeted purchases of raw materials in the third quarter would be: Multiple Choice 62.500 lbs. 88,100 lbs. O 65,600 lbs. O 88,000 lbs