3. Preparing a Direct Materials Purchases Budget Patrick Inc. makes industrial solvent sold in five-gallon drums. Planned production in units for the first three months of the coming year is: January February March 43,800 41,000 50,250 Each drum requires 5.5 gallons of chemicals and one plastic drum. Company policy requires that ending inventories of raw materials for each month be 15% of the next month's production needs. That policy was met for the ending inventory of December in the prior year. The cost of one gallon of chemicals is P2.00. The cost of one drum is P1.60. (Note: Round all unit amounts to the nearest unit.