Required information Use the following information for the Exercises below. Ruiz Co. provides the following sales forecast for the next four months: Sales (units) April 620 May 700 June 650 July 740 The company wants to end each month with ending finished goods inventory equal to 40% of next month's forecasted sales. Finished goods inventory on April 1 is 248 units. Assume July's budgeted production is 650 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 20% of next month's production needs. Beginning raw materials inventory for April was 522 pounds. Assume direct materials cost $6 per pound. Budgeted production (units) Materials requirements per unit Materials needed for production (lbs.) Budgeted ending inventory (lbs.) Total materials requirements (lbs.) Beginning inventory (lbs.) Materials to be purchased (lbs.) Materials price per pound Total budgeted direct materials cost RUIZ CO. Direct Materials Budget For April, May, and June April May 652 680 4 2,608 2,720 24 118 2,632 2,838 X 522 522 2,110 2,316 6 $ 6 2,116 $ 2,322 June 666 4 2,664 592 3,256 522 2,734 6 2,740 units lbs. lbs. lbs. lbs. lbs. lbs. per ib. $ $