Required information Use the following information for the Exercises below Ruiz Co. provides the following sales forecast for the next four months AprilMayJuneJuly 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 20% of next month's production needs. Beginning raw materials inventory for April was 714 pounds Assume direct materials cost $5 per pound Exercise 20-4 Manufacturing: Direct materials budget LO P1 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 udgeted production (units) aterials requirements per unit Materials needed for production (lbs.) udgeted ending inventory (lbs.) Total materials requirements (Ibs.) Beginning inventory (lbs.) Materials to be purchased (lbs.) aterials price per pound Total budgeted direct materials cost