Ruiz Company provides the following budgeted sales for the next four months. The company wants to end each month with ending finished goods inventory equal to 40% of next month's budgeted unit sales. Finished goods inventory on April 1 is 252 units. Prepare a production budget for the months of April, May, and June. April May June July Budgeted sales units 660 630 710 758 RUIZ CO. Production Budget April May June 710 860 750 Next period budgeted sales units Ratio of inventory to future sales 40% 40% 40% Total required units Units to produce Zira Company reports the following production budget for the next four months. Each finished unit requires five pounds of direct materials, and the company wants to end each month with direct materials inventory equal to 20% of next month's production needs. Beginning direct materials inventory for April was 516 pounds. Direct materials cost $5 per pound. Prepare a direct materials budget for April, May, and June. (Round your answers to the nearest whole number.) Units to produce April 516 May 578 June 548 July 528 ZIRA COMPANY Direct Materials Budget April May June Units to produce Materials needed for production (pounds) Total materials required (pounds) Materials to purchase (pounds) Cost of direct materials purchases Jasper Company has 58% of its sales on credit and 42% for cash. All credit sales are collected in full in the first month following the sale. The company budgets sales of $534.000 for April. $544.000 for May, and $569.000 for June. Total sales for March are $305,600. Prepare a schedule of budgeted cash receipts for April, May, and June. April May June Cash sales Sales on account 42% 58% Total sales JASPER COMPANY Schedule of Cash Receipts April May June Cash receipts from Cash sales Collection of accounts receivable Total cash receipts a Fortune Incorporated is preparing its master budget for the first quarter. The company sells a single product at a price of $25 per unit. Sales (in units) are budgeted at 159,000 for the first quarter. Cost of goods sold is $12 per unit. Other expense information for the first quarter follows. Sales Commissions 9% of sales dollars Rent $ 45,889 per quarter Advertising $ 593,800 per quarter Office salaries $ 269, eee per quarter Depreciation $ 113,000 per quarter Interest 1.50% quarterly on $210,eee note payable Tax rate Prepare a budgeted income statement for the first quarter ended March 31. (Round your Intermediate and final answers to the nearest whole dollar.) 40% FORTUNE, INC. Budgeted Income Statement For Quarter Ended March 31 Seiling, general and administrative expenses