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Required information Use the following information for the Exercises below Ruiz Co. provides the following sales forecast for the next four months AprilMay June July 770 Sales (units) 650 730 680 The company wants to end each month with ending finished goods inventory equal to 30% of next months forecasted sales. Finished goods inventory on April 1 is 195 units. Assume Julys budgeted production is 680 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 20% of next months production needs. Beginning raw materials inventory for April was 539 pounds Assume direct materials cost $3 per pound Exercise 7-4 Manufacturing: Direct materials budget LO P1 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 June Materials needed for production (lbs.) Total materials requirements (Ibs.) Materials to be purchased (Ibs.) Total budgeted direct materials cost

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