Nichols Cycles manufactures chainless bicycles. On March 31, Nichols Cycles had 100 bikes in inventory. The company has a policy that the ending inventory in any month must be 10% of the following month's expected sales. Nichols Cycles expects to sell the following number of bikes in each of the next four months:
April ........................................................................................................... 1,000 bikes
May ............................................................................................................ 1,170 bikes
June ........................................................................................................... 1,360 bikes
July ............................................................................................................ 1,250 bikes
Prepare a production budget for the second quarter, with a column for each month and for the quarter.