B- August Budgets During July of the current year, the management of Natural Fragrance, Inc. asked the controller to prepare August manufacturing and income statement budgets. Demand was expected to be 1,300 cases at $80 per case for August. Inventory planning information is provided as follows: none was assumed. In addition, there was no change in the cost per unit or estimated units per case operating data from January. Instructions 5. Prepare the August production budget. 6. Prepare the August direct materials purchases budget. 7. Prepare the August direct labor budget. 8. Prepare the August factory overhead budget. 9. Prepare the August budgeted income statement, including selling expenses. B- August Budgets During July of the current year, the management of Natural Fragrance, Inc. asked the controller to prepare August manufacturing and income statement budgets. Demand was expected to be 1,300 cases at $80 per case for August. Inventory planning information is provided as follows: none was assumed. In addition, there was no change in the cost per unit or estimated units per case operating data from January. Instructions 5. Prepare the August production budget. 6. Prepare the August direct materials purchases budget. 7. Prepare the August direct labor budget. 8. Prepare the August factory overhead budget. 9. Prepare the August budgeted income statement, including selling expenses