Bingham Company manufactures drinking glasses. One unit is a package of eight glasses, which sells for $10. Bingham projects sales for April will be 2,400 packages, with sales increasing by 500 packages per month for May, June, and July. On April 1, Bingham has 225 packages on hand but desires to maintain an ending inventory of 10% of the next month's sales. Prepare a sales budget and a production budget fo April, May, and June. Begin by preparing a sales budget for April, May, and June. Budgeted packages to be sold Bingham Company Sales Budget April, May, and June Sales price per package Total sales April May June Total 2,400 2,900 3,400 8,700 $ 10 $ 10 $ 10 $ 10 $ 24,000 $ 29,000 || $ 34,000 || $ 87,000 Now prepare a production budget for April, May, and June. Bingham Company Production Budget April, May, and June April May June Budgeted packages to be sold 2,400 2,900 3,400 290 340 Plus: Desired packages in ending inventory Total packages needed 2,690 3,240 Less: Packages in beginning inventory Budgeted packages to be produced Total 8,700