Exercise 8-3 (Algo) Direct Materials Budget (LO8-4] 10.83 points Three 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 $1.60 per gram. Budgeted production of Mink Caress is given below by quarters for Year 2 and for the first quarter of Year 3: Skipped Year 2 Second Third 92, eee 152, eee First 62, eee Budgeted production, in bottles Year 3 First 72,880 Fourth 182,080 eBook 100 The Inventory of musk oil at the end of a quarter must be equal to 20% of the following quarter's production needs. Some 37.200 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 Quarter Second References First Third Fourth Year Units of raw materials 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 materials to purchased