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Brief Exercise 24-04 Your answer is partially correct. Try again. Perine Company has 4,500 pounds of raw materials in its December 31, 2019, ending inventory. Required production for January and February of 2020 are 4,500 and 5,700 units, respectively. 5 pounds of raw materials are needed for each unit, and the estimated cost per pound is $8. Management desires an ending inventory equal to 20% of next month's materials requirements. Prepare the direct materials budget for January PERINE COMPANY Direct Materials Budget For the Month Ending January 31, 2020 TUnits to be Produced Direct Materials Per Unit T Total Pounds Required for Production 22500 TAdd TDesired Ending Inventory 7830 Total Materials Required 30330 TLess Beginning Materials Inventory 6075 T Direct Materials Purchases 24255 Cost Per Pound 7 Total Cost of Direct Materials Purchases 194040 Question Attempts: 1 of 5 used