1. Mini Products, Inc., has developed a small digital clock. Each clock requires four small batteries that cost $6 each. Mini Products has prepared a production budget for the clock by quarters for Year 3 and for the first quarter of Year 4, as shown below: 1st/yr3 2nd/yr3 3rd/yr3 4th/yr3 1st/yr4 Required production of clocks 70,000 50,000 55,000 60,000 44,000 the inventory of batteries at the end of a quarter must equal 20% of the following quarter's production needs. Required: Prepare a direct materials budget for batteries, by quarter and in total, for Year 3. At the bottom of your budget, show the dollar amount of purchases for each quarter and for the year in total. (Non-anonymous question )