Exercise 07-3 Manufacturing: Production budget LO P1 Ruiz Co. provides the following sales forecast for the next four months. April May June July Sales (units) (units) 500 580540670 The company wants to end each month with ending finished goods inventory equal to 25% of next month's forecasted sales Finished goods inventory on April 1 is 190 units. Prepare a production budget for the months of April, May, and June. RUV CO. Production Budget For April, May, and June April Next month's budgeted sales (units) Ratio of inventory to future sales 500 The company wants to end each month with ending finished goods inventory equal to 25% of next month's forecasted sales. Finished goods inventory on April 1 is 190 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) ' 580 Ratio of Inventory to future sales 2 5% May June 540 I Required units of available production Units to be produced