Tatum Company manufactures drinking glasses. One unit is a package of eight glasses, which sells for $18. Tatum projects sales for April will be 1,000 packages, with sales increasing by 400 packages per month for May, June, and July. On April 1, Tatum has 400 packages on hand but desires to maintain an ending inventory of 20% of the next month's sales. Prepare a sales budget and a production budget for Tatum for April, May, and June. Begin by preparing a sales budget for April, May, and June. Tatum Company Sales Budget April, May, and June April May June Total Budgeted packages to be sold 1,000 1,400 1,800 4,200 $ 18 $ 18 $ 18 $ 18 Sales price per package $ 18,000 $ 25,200||$ 32,400 $ 75,600 Total sales Now prepare a production budget for April, May, and June. Tatum Company Production Budget April, May, and June April May June Total Budgeted packages to be sold 1,000 1,400 1,800 4,200 Plus: Desired packages in ending inventory 280 360 Total packages needed Less: Packages in beginning inventory Budgeted packages to be produced