Ending inventory, pounds of plastic desired Beginning inventory, pounds of plastic Total pounds of plastic needed for production Buckets to be produced during May Pounds of plastic needed to purchase Cost per pound Pounds of plastic needed for each bucket Estimated cost of purchases for May Smoke, Inc. makes and sells buckets. Each bucket uses 1/2 pound of plastic. Budgeted production of buckets in units for the next three months is as follows: April May June Budgeted production 21,000 22,000 24,000 The company wants to maintain monthly ending inventories of plastic equal to 25% of the following month's budgeted production needs. The cost of plastic is $2.20 per pound. Prepare a direct materials purchases budget for the month of May. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45). Round pounds of plastic needed for each bucket to 1 decimal palce and cost per pound to two decimal palces.)