Required information Ruiz Co. provides the following sales forecast for the next four months: April 540 May 620 June 570 July 660 Sales (units) 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 162 units. Assume July's budgeted production is 570 units. In addition, each finished unit requires six 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 1,015 pounds. Assume direct materials cost $4 per pound. Prepare a production budget for the months of April, May, and June. RUIZ CO. Production Budget For April, May, and June April Next month's budgeted sales (units) 620 Ratio of inventory to future sales 30% May 570 June 6 60 Required units of available production Units to be produced Required information Ruiz Co provides the following sales forecast for the next four months: Sales (units) April 540 May 620 June 570 July 660 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 162 units. Assume July's budgeted production is 570 units. In addition, each finished unit requires six 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 1015 pounds. Assume direct materials cost $4 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 (lbs.) Materials to be purchased (lbs.) Total budgeted direct materials cost