Your answer is partially correct. Coronado Company has 1,840 pounds of raw materials in its December 31,2021 , ending inventory. Required production for January and February of 2022 are 3,680 and 4,600 units, respectively. Two pounds of raw materials are needed for each unit, and the estimated cost per pound is $6. Management desires an ending inventory equal to 25% of next month's materials requirements. Prepare the direct materials budget for January. Prepare the direct materials budget for January. CORONADO COMPANY Direct Materials Budget For the Month Ending January 31, 2022 Your answer is partially correct. Coronado Company has 1,840 pounds of raw materials in its December 31,2021 , ending inventory. Required production for January and February of 2022 are 3,680 and 4,600 units, respectively. Two pounds of raw materials are needed for each unit, and the estimated cost per pound is $6. Management desires an ending inventory equal to 25% of next month's materials requirements. Prepare the direct materials budget for January. Prepare the direct materials budget for January. CORONADO COMPANY Direct Materials Budget For the Month Ending January 31, 2022