DeWitt Industries has adopted the following production budget for the first 4 months of 2020. Month Units Month Units January 10,340 March 5,440 February 8,480 April 4,230 Each unit requires 3 pounds of raw materials costing $4 per pound. On December 31, 2019, the ending raw materials inventory was 6,204 pounds. Management wants to have a raw materials inventory at the end of the month equal to 20% of next month’s production requirements. Prepare a direct materials purchases budget by month for the first quarter.