Chapter 8 Graded Homework i Saved 3 Exercise 8-3 (Algo) Direct Materials Budget (LO8-4] 1.56 points Two grams of musk oil are required for each bottle of Mink Caress, a very popular perfume made by a small company in western Siberia. The cost of the musk oil is $170 per gram. Budgeted production of Mink Caress is given below by quarters for Year 2 and for the first quarter of Year 3: First 78,888 Budgeted production, in bottles Year 2 Second Third 188,000 168,000 Year 3 First 88, 900 Fourth 118,000 eBook det The inventory of musk oil at the end of a quarter must be equal to 20% of the following quarter's production needs. Some 31,200 grams of musk oil will be on hand to start the first quarter of Year 2 Required: Prepare a direct materials budget for musk oil, by quarter and in total, for Year 2 Hint Print Mink Caress Direct Materials Budget - Year 2 First Quarter Second Quarter Third Quarter Fourth Quarter Year References units of raw matenals needed per unit of finished goods Units of raw materials needed to meet production Total units of raw materials needed Units of raw materials to be purchased Unit cost of raw materials Cost of raw matenals to purchased