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Required information Ruiz Co provides the following sales forecast for the next four months: Sales (units) April 640 May 720 June 670 July 760 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 256 units. Assume July's budgeted production is 670 units. In addition, each finished unit requires five 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 672 pounds. Assume direct materials cost $5 per pound. Prepare a production budget for the months of April, May, and RUIZ CO. Production Budget For April, May, and June April May - Next month's budgeted sal Ratio of inventory to future 22 NO ST LLLL Required units of available product STITI 111 8 Units to be produced 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 Materials needed for production (lbs.) Total materials requirements (lbs.) Materials to be purchased (lbs.) Total budgeted direct materials cost