You received no credit for this question in the previous 1 E8-21 (Algo) Preparing Production and Direct Materials Purchases Budgets (LO 8-3b) Galactic Inc. manufactures flying drone toys. Sales units for January, February, March, April and May were 600, 580, 652, 612, and 680 respectively. = T Required: 1. The company's policy for ending finished goods is 25 percent of next month's sales. Prepare a production budget for the first quarter. 2. The drone toy includes 2 LED lights, which cost $15 each. The company requires ending direct materials to be 20 percent of next month's materials requirement. Prepare a direct materials purchases budget with respect to LED lights for the first quarter. eBook & Hint Complete this question by entering your answers in the tabs below. T Print Required 1 Required 2 o ferences The drone toy includes 2 LED lights, which cost $15 each. The company requires ending direct materials to be 20 percent of next quarter's materials requirement. Prepare a direct materials purchases budget for the first quarter. (Do not round intermediate calculations.) Jan 17,870 Feb 18,121 $ Mar 19,230 1st Quarter $ 55,221 Budgeted Cost of Direct Material Purchases $ $ ( Required 1 Required 2 >