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Required information Ramos Co. provides the following sales forecast and production budget for the next four months. April May June July Sales (units) 660 740 690 760 Budgeted production (units) 600 730 700 700 The company plans for finished goods inventory of 280 units at the end of June. In addition, each finished unit requires 5 pounds of direct materials and the company wants to end each month with direct materials inventory equal to 20% of next month's production needs. Beginning direct materials inventory for April was 600 pounds. Direct materials cost $2 per pound. Each finished unit requires 0.40 hours of direct labor at the rate of $15 per hour. The company budgets variable overhead at the rate of $19 per direct labor hour and budgets fixed overhead of $9,600 per month. Prepare a direct materials budget for April, May, and June. RAMOS CO. Direct Materials Budget For April, May, and June April May June Budget production (units) 600 73 700 units Materials requirements per unit 5 5 5 lbs. Materials needed for production (lbs.) 3,000 3,650 3,500 Ibs. Budgeted ending inventory (Ibs.) Total materials requirements (Ibs.) Beginning inventory (Ibs.) 600 0 Materials to be purchased (Ibs.) (600) 0 0 Materials price per pound Budgeted cost of direct materials purchasesKayak Co. budgeted the following cash receipts (excluding cash receipts from loans received) and cash payments (excluding cash payments for loan principal and interest payments) for the rst three months of next year. Cash Cash Receipts payments January $526,000 $472,800 February 400.500 347,300 March 453,000 533,000 [ According to a credit agreement with its bank, Kayak requires a minimum cash balance of $30,000 at each monthend. In return, the bank has agreed that the company can borrow up to $150,000 at a monthly interest rate of1%, paid on the last day of each month. The interest is computed based on the beginning balance of the loan for the month. The company repays loan principal with any cash in excess of $30,000 on the last day of each month. The company has a cash balance of $30,000 and a loan balance of $60,000 at January 1. Prepare monthly cash budgets for January. February, and March. (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign.) Beginning cash balance a 30,000 $ 30,000 _ Cash receipts 526,000 400,500 453,000 Tolal cash available 555.000 430.500 _ Cash payments 472.800 347.300 _ W_ Preliminary cash balance 83,200 88,200 _ Ending cash balance Loan balance - Beginning of month 35 Additional loan (loan repayment) Loan balance End of month