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Ruiz Co. provides the following sales forecast for the next four months: Sales (units) 620 700 650 740 The company wants to end each month with ending finished goods inventory equal to 40% of next month's forecasted sales. Finished goods inventory on Apri 1 is 248 units. Assume July's budgeted production is 650 units. In addition, each finished unit requires five pounds (lbs.) of raw materials and the company wants to end each month with raw materials inventory equal to 40% of next month's production needs. Beginning raw materials inventory for April was 1,304 pounds Assume direct materials cost $5 per pound Exercise 20-3 Manufacturing: Production budget LO P1 Prepare a production budget for the months of April, May, and June RUIZ CO Production Budget For April, May, and June April May June Next month's budgeted sales (units) Ratio of inventory to future sales 700 650 740 40% udgeted ending inventory (units) udgeted unit sales for month Required units of available production Budgeted beginning inventory (units) Units to be produced