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Saphire, Inc., bottles and distributes mineral water from the company's natural springs in northern Oregon. Saphire markets two products: 12-ounce disposable plastic bottles and 1-gallon reusable plastic containers. Read the requirements. Requirement 1. For 2021, Saphire marketing managers project monthly sales of 500,000 12-ounce bottles and 130,000 1-gallon containers. Average selling prices are estimated at $0.30 per 12-ounce bottle and $1.60 per 1-gallon container. Prepare a revenues budget for Saphire, Inc., for the year ending December 31, 2021. Revenues Budget X For Year Ending December 31, 2021 Requirements Units Price Total 12-oz. bottles 1-gallon containers 1. For 2021, Saphire marketing managers project monthly sales of 500,000 12 ounce bottles and 130,000 1-gallon containers. Average selling prices are estimated at $0.30 per 12-ounce bottle and $1.60 per 1-gallon container. Prepare a revenues budget for Saphire, Inc., for the year ending December 31, 2021. Budgeted revenues 2. Saphire begins 2021 with 980,000 12-ounce bottles in inventory. The vice president of operations requests that 12-ounce bottles ending inventory on December 31, 2021, be no less than 660,000 bottles. Based on sales projections as budgeted previously, what is the minimum number of 12-ounce bottles Saphire must produce during 2021? 3. The VP of operations requests that ending Inventory of 1-gallon containers on December 31, 2021, be 300,000 units. If the production budget calls for Saphire to produce 1,200,000 1-gallon containers during 2021, what is the beginning inventory of 1-gallon containers on January 1, 2021