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Runner Industrial has estimated that production for the next five quarters will be: Finished units of production require 6 pounds of raw material per unit. The raw material cost is $7 per pound. There is $255,150 of raw material on hand at the beginning of the first quarter, 2020. Runner 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 Runner Industrial for 2020. Question 3 of 8 /1i For the Year Ending December 31, 2020 Question 3 of 8 /1 Direct Materials Purchases Budget For the Year Ending December 31, 2020 $ $ eTextbook and Media Save for Later Attempts: 0 of 5 used Submit