Current Attempt in Progress DeWitt industries has adopted the following production budget for the first 4 months of 2020 . Each unit requires 5 pounds of raw materials costing $2 per pound. On December 31,2019 , the ending raw materials imventory was 10,130 pounds. Management wants to have a raw materials inventory at the end of the month equal to 20% of next month's production requirements. Prepare a direct materials purchases budget by month for the first quarter. Each unit requires 5 pounds of raw materials costing $2 per pound. On December 31,2019 , the ending raw materials imventory was 10,130 pounds. Management wants to have a raw materials inventory at the end of the month equal to 20% of next month's production requirements. Prepare a direct materials purchases budget by month for the first quarter. eTextbook and Media Attempts: 0 of 3 used