3 Required information Use the following information for the Exercises below. Ramos Co. provides the following sales forecast and production budget for the next four months 1 points April 500 Sales (units) Budgeted production (units) May 580 570 June 530 July 600 540 442 eBook Hint The company plans for finished goods inventory of 120 units at the end of June. In addition, each finished unit requires 5 pounds of direct materials and the company wants to end each month with direct materials inventory equal to 30% of next month's production needs. Beginning direct materials inventory for April was 663 pounds. Direct materials cost $2 per pound. Each finished unit requires 0.50 hours of direct labor at the rate of $16 per hour. The company budgets variable overhead at the rate of $20 per direct labor hour and budgets foed overhead of $8,000 per month Print Exercise 20-8 Manufacturing: Direct materials budget LO P1 References Prepare a direct materials budget for April, May, and June RAMOS CO. Direct Materials Budget For April, May, and June April May 442 June Budget production (units) 570 544 units Materials needed for production (lbs) Total materials requirements (lbs) 0 0 Materials to be purchased (s) Materials price per pound Budgeted cost of direct materials purchases