Two 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 $1.50 per gram. Budgeted production of Mink Caress is given below by quarters for Year 2 and for the first quarter of Year 3: Budgeted production, in bottles First 74,000 Year 2 Second Third 104,000 164,000 Fourth 114,000 Year 3 First 84,000 The inventory of musk oil at the end of a quarter must be equal to 20% of the following quarter's production needs. Some 29,600 grams of musk oil will be on hand to start the first quarter of Year 2. Required: Prepare a direct materials budget for musk oil, by quarter and in total, for Year 2. Answer is not complete. Mink Caress Direct Materials Budget-Year 2 First Quarter Second Quarter Third Quarter Fourth Year Quarter Required production in units of finished goods Units of raw materials needed per unit of finished goods Units of raw materials needed to meet production Add: Desired units of ending raw materials inventory Total units of raw materials needed 74,000 3 104,000 164,000 114,000 3 3 3 3 x 222,000 312,000 492,000 342,000 62,400 98,400 68,400 50,400 Less: Desired units of ending raw materials inventory Units of raw materials to be purchased Unit cost of raw materials Cost of raw materials to purchased