Zortek Corp. budgets production of 340 units in January and 400 units in February. Each finished unit requires one pounds of raw material Z, which costs $4 per pound. Each month's ending inventory of raw materials should be 40% of the following month's budgeted production. The January 1 raw materials inventory has 120 pounds of Z. Prepare a direct materials budget for January units lbs. lbs. ZORTEK CORP. Direct Materials Budget For Month Ended January 31 Budget production (units) Materials to be purchased Materials needed for production (lbs.) Add: Budgeted ending inventory (lbs.) Total materials requirements (lbs.) Less: Beginning inventory (lbs.) Materials to be purchased (lbs.) Materials price per pound Total cost of direct materials purchases lbs. lbs. Ibs. 0 lbs. per lb