Use the following information for the Exercises below Ruiz Co. provides the following sales forecast for the next four months April May June . 1 760 Sales (units) 640 728 670 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 192 units. Assume July's budgeted production is 670 units. In addition, each finished unit requires four pounds (Ibs.) of raw materials and the company wants to end each month with raw materials inventory equal to 30% of next month's production needs. Beginning raw materials inventory for April was 797 pounds Assume direct materials cost $3 per pound Exercise 20-4 Manufacturing: Direct materials budget LO P1 Prepare a direct materials budget for Apri, 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 664 4 2,656 846 3,634 797 2,837 705 4 2,820 836 3,666 846 697 units 4 lbs 2,788 Ibs 804 Ibs. 3,592 Ibs. 836 lbs udgeted production (units) aterials requirements per unit Materials needed for production (Ibs.) udgeted ending inventory (Ibs.) Total materials requirements (Ibs.) eginning inventory (lbs.) Materials to be purchased (lbs.) Cost per lb Total budgeted direct materials cost 3 per lb 8,511