O Required information Ruiz Co provides the following sales forecast for the next four months Sales (units) April 610 May 690 June 640 July 730 The company wants to end each month with ending finished goods inventory equal to 20% of next month's forecasted sales. Finished goods inventory on April 1 is 122 units. Assume July's budgeted production is 640 units. In addition, each finished unit requires four pounds (lbs) of raw materials and the company wants to end each month with raw materials inventory equal to 30% of next month's production needs. Beginning raw materials inventory for April was 751 pounds Assume direct materials cost $5 per pound. Prepare a production budget for the months of April, May, and June ces May June 730 640 RUIZ CO. Production Budget For April, May, and June April Next month's budgeted sales (units) 690 Ratio of inventory to future sales 20% Budgeted ending Inventory (units) Budgeted unit sales for month Required units of available production Budgeted beginning inventory (units) Units to be produced Required information Ruiz Co provides the following sales forecast for the next four months: Sales (units) April 610 May 690 June 640 July 738 The company wants to end each month with ending finished goods inventory equal to 20% of next month's forecasted sales. Finished goods Inventory on April 1is 122 units. Assume July's budgeted production is 640 units. In addition, each finished unit requires four pounds (lbs.) of raw materials and the company wants to end each month with raw materials inventory equal to 30% of next month's production needs. Beginning raw materials inventory for April was 751 pounds. Assume direct materials cost $5 per pound. Prepare a direct materials budget for April, May and June. (Round your intermediate calculations and final answers to the nearest whole dollar amount.) RUIZ CO Direct Materials Budget For April, May, and June April May June Materials needed for production (lbs) Total materials requirements (bs) Materials to be purchased (lbs) Total budgeted direct materials cost