Three grams of musk oil are required for each bottle of Mink Caress, a very popular perfume made by a small company in western Siberia. The cost of the musk oil is $190 per gram Budgeted production of Mink Caress is given below by quarters for Year 2 and for the first quarter of Year 3 FLERE 68,000 Year 2 e and Third Fourth 98.000 150.000 100,000 Budgeted production, in bottles Yes VIE 78,000 The inventory of musk oil at the end of a quarter must be equal to 20% of the following quarter's production needs. Some 40,800 grams of musk oil will be on hand to start the first quarter of Year 2 Required: Prepare a direct materials budget for muskoll, by quarter and in total, for Year 2 Answer is complete but not entirely correct. ol O Mink Caress Direct Materials Budget Yoar 2 Qunter First Second Third Required production in units of finished goods 68,000 90.000 158.000 Units of raw materials needed per unit of finished goods 3 3 3 Units of raw materials needed to meet production 204,000 294 000 474 000 Add Desired units of ending raw materials inventory 88.2003 142.2003 97,200 Total units of raw materials needed 292.2003 436,200 571 200 Less: Units of beginning raw materials inventory 40.800 88 2003 142.2003 Units of raw materials to be purchased 251,400 348.000 429,000 Unit cost of raw materials S 190S 1905 1.90$ Cost of raw matenals to purchased S477,660 S 661 200 S815,100 $ Fourth Year 108,000 432,000 3 324,000 1.296.000 70.200 70.200 394 2003 1.366.2003 97.200 40.800 297.000 1,325,400 1.90 190 564 300 $ 2,518.260