Required information Ruiz Co. provides the following sales forecast for the next four months April May June July 640 Sales (units) 520 600 550 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 104 units. Assume July's budgeted production is 550 units. In addition, each finished unit requires four 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 643 pounds. Assume direct materials cost $5 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 600 20% 120 520 640 550 20% 110 600 710 640 Next month's budgeted sales (units) Ratio of inventory to future sales 20% udgeted ending inventory (units) udgeted unit sales for month 550 Required units of available production 678 udgeted beginning inventory (units) Units to be produced