Required information Ruiz Co provides the following sales forecast for the next four months Sales (units) April 510 Hay 590 June 540 July 630 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 102 units. Assume July's budgeted production is 540 units. In addition, each finished unit requires six pounds (bs) of raw materials and the company wants to end each month with raw materials inventory equal to 20% of next month's production needs. Beginning raw materials inventory for April was 631 pounds. Assume direct materials cost $5 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) 590 Ratio of inventory to future sales 20% May June 540 630 Required units of available production Units to be produced