Part B August Budgets During July of the current year, the management of Genuine Spice Inc. asked the controller to prepare August manufacturing and income statement budgets. Demand was expected to be 1,500 cases at $100 per case for August Inventory planning information is provided as follows Finished Goods Inventory: Cases Cost Estimated finished goods inventory, August 1 Desired finished goods inventory, August 311 300 $12,000 175 7,000 Materials Inventory Cream Base Estimated materials inventory, August 1 (oz.) 250 Desired materials inventory, August 31 1,000 TH Oils Bottles (oz.) (bottles) 290 600 360 240 There was negligible work in process inventory assumed for either the beginning or end of the month, thus, none was assumed. In addition, there was no change in the cost per unit or estimated units per case operating data from January