how do I calculate the budgeted ending inventory for the Raw materials budget??

The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017 ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2017 Assets Cash Accounts receivable Raw materials inventory Finished goods inventory Total current assets Equipment, gross Accumulated depreciation Equipment, net $ 80,900 487,580 93,390 438,000 1,098,890 640,000 (170,000) 470,000 1,568,890 Total assets Liabilities and Equity s 215,690 Accounts payable short-term notes payable Total current 1liabilities Long-term note payable Total liabilities 32,000 247,690 520,000 767,690 355,000 446,200 Common stock Retained earnings Total stockholders' equity Total liabilities and equity s 1,568, 890 To prepare a master budget for April. May, and June of 2017, management gathers the following information: a. Sales for March total 25,000 units. Forecasted sales in units are as follows: April, 25,000, May, 17,100; June, 22.300, and July 25,000. Sales of 260.000 units are forecested for the entire year. The product's selling price is $26.00 per unit and its total product cost is $21.90 per unit b. Company policy calls for a given month's ending raw materials inventory to equal 50% of the next month's materials requirements. The March 31 raw materials inventory is 4670 units, which complies with the policy. The expected June 30 ending raw materials inventory is 6,000 units. Rew materials cost $20 per unit. Each finished unit requires 0.50 units of raw materials c. Company policy calls for a given month's ending finished goods inventory to equal 80% of the next month's expected unit sales. The March 31 finished goods inventory is 20,000 units, which complies with the policy d. Each finished unit requires 0.50 hours of direct labor at a rate of $16 per hour e. Overhead is allocated based on direct lobor hours. The predetermined variable overhead rate is $4.00 per direct labor hour Depreciation of $40,790 per month is treated es fixed factory overhead f. Sales representatives' commissions are 10% of sales and are paid in the month of the sales. The sales manager's monthly salary is $5,000 9-Monthly general and administrative expenses include $21,000 administrative salaries and 09% monthly interest on the long-term note payable. h. The company expects 25% of sales to be for cash and the remaining 75% on credit. Receivables are collected in full in the month following the sale (none are collected in the month of the sale) i. All raw materials purchases are on credit, and no payables arise from any other transactions. One month's raw materials purchases are fully paid in the next month. J. The minimum ending cash bolance for all months is $99,000 If necessary, the company borrows enough cash using a short-term note to reach the minimum Short-term notes require an interest payment of 1% at each month-end before any repayment if the ending cash balance exceeds the minimum, the excess will be applied to repaying the short-term notes payable balance k. Dividends of $30,000 are to be declared and paid in May. L No cash payments for income taxes are to be made during the second calendar quarter income tax will be assessed at 40% in the quarter and paid in the third calender quarter m. Equipment purchases of $150,000 are budgeted for the last day of June Required: Prepare the following budgets and other financial information as required. All budgets and other financial information should be prepared for the second calendar quorter, except as otherwise noted below. (Round calculations up to the nearest whole dollar except for the amount of cash sales, which should be rounded down to the nearest whole dollar.) 1. Sales budget 2. Production budget 3. Raw materials budget 4. Direct labor budget 5. Factory overhead budget 6. Selling expense budget 7. General and administrative expense budget 8. Cash budget 9. Budgeted income statement for the entire second quarter (not for each month separately). 10. Budgeted balance sheet Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Required 7 Required 8 Required 9 Required 10 Sales budget. (Round Budgeted unit price to 2 decimal places.) ZIGBY MANUFACTURING Sales Budget April, May, and June 2017 Budgeted Budgeted Budgeted Unit Sales Unit Price Sales Doll 25,000 26.00$ 650,000 April 2017 May 2017 17,100 26.00 444,600 June 2017 22,300 26.00 579,800 1,674,400 Totals for the second quarter 64,400 Required 2 Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Required 7 Required 8 Required 9 Required 10 Production budget. ZIGBY MANUFACTURING Production Budget April, May, and June 2017 Total May June April 25,000 22,300 17,100 Next month's budgeted sales (units) 80%| 80%| | 80% Ratio of inventory to future sales 20,000 17,840 13,680 Budgeted ending inventory (units) 17,100 22,300 25,000 Budgeted units sales for month 4,940 42,300 8,680 Required units of available production (17,840) (13,680) (20,000) ginning inventory (units) 24460 64,400 21,260 18,680 Units to be produced Required 3 Required 1 Required 1 Required 2 Required 3 Required 4Required 5 Required 6 Required 7 Required 8 Required 9 Required 10 29289 Raw materials budget. (Round per unit values to 2 decimal places.) ZIGBY MANUFACTURING Raw Materials Budget April, May, and June 2017 May June April 18,680 24,460 21,260 Production budget (units) 0.50 0.50 0.50 Materials requirements per unit 9,340 0,630 12,230 Materials needed for production 6,115 5,315 Budgeted ending inventory 6,745 14,655 Total materials requirements (units) Beginning inventory Materials to be purchased Material price per unit Budgeted raw material purchases Required 4> Required 2 Prev 1 of E Next Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Required 7 Required 8 Required 9 Required 10 Direct labor budget. (Round per unit values to 2 decimal places.) ZGBY MANUFACTURING Direct Labor Budget April, May, and June 2017 Total May June April Budgeted production (units) Total labor hours needed Budgeted direct labor cost Required 5 Required 3 Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Required 7 Required 8 Required 9 Required 10 Factory overhead budget. (Round per unit values to 2 decimal places.) ZIGBY MANUFACTURING Factory Overhead Budget April, May, and June 2017 Total June April May Labor hours needed Budgeted variable overhead Budgeted fixed overhead Budgeted total overhead Required 6> Required 4 Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Required 7 Required 8 Required 9 Required 10 Factory overhead budget. (Round per unit values to 2 decimal places.) ZIGBY MANUFACTURING Factory Overhead Budget April, May, and June 2017 Total June April May Labor hours needed Budgeted variable overhead Budgeted fixed overhead Budgeted total overhead Required 6> Required 4 Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Required 7 Required 8 Required 9 Required 10 e) Selling expense budget. ZGBY MANUFACTURING Selling Expense Budget April, May, and June 2017 April May June Budgeted sales Sales commissions Required 7> Required 5