0 Required information Use the following information for the Exercises below. Ruiz Co. provides the following sales forecast for the next four months Apr une Sales (units) 510 590 540 630 The company wants to end each month with ending finished goods inventory equal to 30% of next month's forecasted sales. Finished goods inventory on April 1 is 153 units. Assume July's budgeted production is 540 units. In addition, each finished unit requires four pounds (lbs.) of raw materials and the company wants to end each month with raw materials inventory equal to 40% of next month's production needs. Beginning raw materials inventory for April was 854 pounds. Assume direct materials cost $5 per pound Exercise 20-3 Manufacturing: Production budget LO P1 Prepare a production budget for the months of Apri, May, and June. RUIZ CO