Required information Ruiz Co. provides the following sales forecast for the next four months April May June July 810 Sales (units) 690 770 720 The company wants to end each month with ending finished goods inventory equal to 30% of next month's forecasted sales. Finished goods inventory on April 1 is 207 units. Assume July's budgeted production is 720 units. In addition, each finished unit requires five pounds (Ibs.) 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 1,428 pounds Assume direct materials cost $6 per pound Prepare a production budget for the months of Apri, May, and June RUIZ CO Production Budget For April, May, and June April May June 770 30% 810 Next month's budgeted sales (units) Ratio of inventory to future sales 720 Required units of available production Units to be produced Required information Ruiz Co. provides the following sales forecast for the next four months April May June July 810 Sales (units) 690 770 720 The company wants to end each month with ending finished goods inventory equal to 30% of next month's forecasted sales. Finished goods inventory on April 1 is 207 units. Assume July's budgeted production is 720 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 1,428 pounds Assume direct materials cost $6 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 (Ibs.) Total materials requirements (lbs.) Materials to be purchased (Ibs.) Total budgeted direct materials cost Karim Corp. requires a minimum $8,500 cash balance. If necessary, loans are taken to meet this requirement at a cost of 2% interest per month (paid monthly). Any excess cash is used to repay loans at month-end. The cash balance on July 1 is $8,900 and the company has no outstanding loans. Forecasted cash receipts (other than for loans received) and forecasted cash payments (other than for loan or interest payments) follow July Cash receipts Cash payments $24,500 32,500 30,500 August September $40,500 32,500 28,750 Prepare a cash budget for July, August, and September. (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Round your final answers to the nearest whole dollar.) KARIM CORP Cash Budget For July, August, and September July August September Beginning cash balance 8,900 Total cash available Preliminary cash balance Ending cash balance Loan balance Loan balance Beginning of month Additional loan (loan repayment) Loan balance End of month