Current Attempt in Progress Steering Industrial has estimated that production for the next five quarters will be: Production Information 1st quarter, 2020 50,400 units 2nd quarter, 2020 45,600 units 3rd quarter, 2020 55,200 units 4th quarter, 2020 43,200 units 1st quarter, 2021 52,000 units Finished units of production require 6 pounds of raw material per unit. The raw material cost is $7 per pound. There is $317,520 of raw material on hand at the beginning of the first quarter, 2020. Steering desires to have 15 percent of next quarter's material requirements on hand at the end of each quarter. Prepare quarterly direct materials purchases budgets for Steering Industrial for 2020. $ Quarter 1 Steering Industrial Direct Materials Purchases Budget For the Year Ending December 31, 201 Quarter 2 SA eTextbook and Media $ 8 $ SA eTextbook and Media $ $ $ $ Steering Industrial Direct Materials Purchases Budget r the Year Ending December 31, 2020 Quarter 2 SA $ Quarter 3 $ Quarter 4 Year $ $ $ $ LA