Refer to Exercises 7-3 and 7-4 in your textbook and answer t
Refer to Exercises 7-3 and 7-4 in your textbook and answer the questions that follow. Your response should be 2 to 3 pages long, including attachments, and follow APA format. Hospitable Co. provides the following sales forecast for the next four months:April May June JulySales (units). . . . . . . .500 580 540 620The company wants to end each month with ending finished goods inventory equal to 25% of next monthâ€™s sales. Finished goods inventory on April 1 is 190 units. Assume Julyâ€™s budgeted production is 540 units. Prepare a production budget for the months of April, May, and June.Refer to the information in Exercise 7-3. In addition, each finished unit requires five pounds of raw materials and the company wants to end each month with raw materials inventory equal to 30% of next monthâ€™s production needs. Beginning raw materials inventory for April was 663 pounds. Assume direct materials cost $4 per pound. Prepare a direct materials budget for April, May, and June.Exercise 7-4 Manufacturing: Direct materials budget P1PS Only peer reviewed references (6) allowed, citations if used MUST match references.