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Lugo Company manufactures drinking glasses. One unit is a package of eight glasses, which sells...

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Accounting

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Lugo Company manufactures drinking glasses. One unit is a package of eight glasses, which sells for $18. Lugo projects sales for April will be 4,000 packages, with sales increasing by 500 packages per month for May, June, and July. On April 1, Lugo has 400 packages on hand but desires to maintain an ending inventory of 10% of the next month's sales. Prepare a sales budget and a production budget for Lugo for April, May, and June. Begin by preparing a sales budget for April, May, and June. Now prepare a production budget for April, May, and June

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