Business, 02.08.2021 22:30 Requiem3327

Ruiz Co. provides the following sales forecast for the next four months: April May June July
Sales (units) 570 650 600 690
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 171 units. Assume July's budgeted production is 600 units. In addition, each finished unit requires four pounds (lbs.) 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 713 pounds. Assume direct materials cost $4 per pound.
1. Prepare a production budget for the months of April, May, and June.
2. 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.
Production Budget
For April, May, and June
April May June
Next month's budgeted sales (units) 650 600 690
Ratio of inventory to future sales 30%
Required units of available production
Units to be produced
RUIZ CO.
Direct Materials Budget
For April, May, and June
April May June
Materials needed for production (lbs.)
Total materials requirements (lbs.)
Materials to be purchased (lbs.)
Total budgeted direct materials cost

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Ruiz Co. provides the following sales forecast for the next four months: April May June July

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