Problem 2. Revenues and production budget. 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. 1) For 2020, Price marketing managers project monthly sales of 420,000 12-ounce bottles and 170,000 1-gallon containers. Average selling prices are estimated at $0.20 per 12-ounce bottle and $1.50 per 1-gallon container. Prepare a revenues budget for Price, Inc., for the year ending December 31, 2020. 2) Price begins 2020 with 890,000 12-ounce bottles in inventory. The vice president of operations requests that 12-ounce bottles ending inventory on December 31, 2020, be no less than 680,000 bottles. Based on sales projections as budgeted previously, what is the minimum number of 12-ounce bottles Price must produce during 2020? 3) The VP of operations requests that ending inventory of 1-gallon containers on December 31, 2020, be 240,000 units. If the production budget calls for Price to produce 1,900,000 1-gallon containers during 2020, what is the beginning inventory of 1-gallon containers on January 1, 2020?