ACC3300-Fall 2017-Chapter 6 Stimulating Exercises Exercise 1) Price, Inc., bottles and distributes mineral water from the company's natural springs in northern Oregon. Price markets two products: 12-ounce disposable plastic bottles and 1-gallon reusable plastic containers. Required: A) For 2018, Price marketing managers project monthly sales of 455,500 12-ounce bottles and 202,220 1-gallon containers. Average selling prices are estimated at $0.30 per 12-ounce bottle and $1.75 per l-gallon container. Prepare a revenues budget for Price, Inc, for the year ending December 31, 2018. B) Price begins 2018 with 980,000 12-ounce bottles in inventory. The vice president of operations requests that 12-ounce bottles ending inventory on December 31, 2018, be no less than 860,000 bottles. Based on sales projections as budgeted previously, what is the minimum number of 12 ounce bottles Price must produce during 2018? C) The VP of operations requests that ending inventory of 1-gallon containers on December 31, 2018, be 543,210 units. If the production budget calls for Price to produce 2,345,678 1-gallon containers during 2018, what is the beginning inventory of 1-gallon containers on January 1, 2018