Johnson company is preparing its master budget for the first quarter of the next year. Budgeted sales and production for one of the company's products are as follows: Month Sales Production January 10,000 12,000 February 12,000 11,000 March 15,000 16,000 Each unit of this product requires 4 pounds of rafv materials. Johnson's policy is to have sufficient raw materials on hand at the end of each month for 40% of the following month's production requirements. The January 1st raw materials inventory is expected to conform with this policy. How many pounds of raw materials should Johnson budget to purchase for January