Problem - Production and Direct Material Budget Complete the direct materials and production budgets for the first quarter of the year. Each correct answer is worth_1.5 point(s). Direct Materials Budget First Quarter February March January Total April 2. 3. Units to be produced 11,800 Direct materials per unit 3 3 3 4. 5. Total pounds needed 35,400 + 7. 8. 9. Desired ending direct material 10. 11. 12. Total materials required 13. 14. 15. Less: Beg. direct materials 16. 17. 18. Direct material purchases Cost per pound 19. 20. 21. 22. Total costs They also have a policy of maintaining a raw materials inventory at the end of each month equal to 30% of the pounds needed for the following month's production. There were 8,640 pounds of raw materials on hand at December 31, 2016