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E22-23 Preparing an operating budget-sales and production budgets Lugo Company manufactures drinking glasses. One unit...

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E22-23 Preparing an operating budget-sales and production budgets Lugo Company manufactures drinking glasses. One unit is a package of eight glasses, which sells for $30. Lugo projects sales for April will be 2,000 packages, with sales increasing by 250 packages per month for May, June, and July. On April 1, Lugo has 325 packages on hand but desires to maintain an ending inventory of 20% of the next month's sales. Prepare a sales budget and a production budget for Lugo for April, May, and Tune

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