59-4 Production budget (Learning Objective 2) Trader Cycles manufactures chainless bicycles. On March 31, Trader Cycles had 220 bikes in inventory. The company has a policy that the ending inventory in any month must be 30% of the following month's expected sales. Trader Cycles expects to sell the following number of bikes in each of the next four months: April. 1,000 bikes May... 1,180 bikes June... 1,320 bikes July 1,200 bikes Prepare a production budget for the second quarter, with a column for each month and for the quarter. Trader Cycles Production Budget For the Months of April through June April May June Quarter Unit sales Plus: Desired ending inventory (30% of next month's unit sales) Total needed Less: Beginning inventory Number of units to produce