Exercise 07-3 Manufacturing: Production budget LO P1 Ruiz Co. provides the following sales forecast for the next four months. Sales (units) April 510 May 590 June 540 July 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. Prepare a production budget for the months of April, May, and June. RUIZ CO. Production Budget For April, May, and June April Next month's budgeted sales (units) 590 Ratio of inventory to future sales 30% May June 630 540 Required units of available production Units to be produced