Bingham Company manufactures drinking glasses. One unit is a package of eight glasses, which sells for $20. Bingham projects sales for April will be 4,000 packages, with sales increasing by 250 packages per month for May, June, and July. On April 1, Bingham has 350 packages on hand but desires to maintain an ending inventory of 20% of the next month's sales. Prepare a sales budget and a production budget for Bingham for April, May, and June April May June Total Budgeted packages to be sold 4,000 4,250 4,500 12,750 Sales price per package 20 $ 20 $ 20 $ 20 Total sales 80,000 $85,000 $ 90,000 $255,000 Now prepare a production budget for April, May, and June. Bingham Company Production Budget April, May, and June April May June 4000 4250 4500 Budgeted packages to be sold Plus: Desired packages in ending inventory Total packages needed Less Packages in beginning inventory Budgeted packages to be produced Total 12750