K Bingham Company manufactures drinking glasses. One unit is a package of eight glasses, which sells for $20. Bingham projects sales for April will be 1.500 packages, with sales increasing by 350 packages per month for May, June, and July On April 1, Bingham has 300 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. 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 1,500 1,850 2,200 5,550 20 $ 20 $ 20 $ 20 $ 69 69 30,000 $ 37,000 $ 44,000 $ 111,000 Now prepare a production budget for April, May, and June. Bingham Company Production Budget April, May, and June April May June Total Budgeted packages to be sold. 1,500 1,850 2,200 5,550 Plus: Desired packages in ending inventory 370 440 510 1320 Total packages needed 1870 2290 2710 6870 Less: Packages in beginning inventory 300 650 1000 1950 1570 1640 1710 4920 Budgeted packages to be produced