FreshPak Corporation manufactures two types of cardboard boxes used in shipping canned food, fruit and vegetables. The canned food box (type C) and the perishable food box ( type P ) have the following material and labor requirements
	Type of Box
Direct material rrequired per 100 boxes	C	P
Paperboard ($.20 per pound)	30	70
Corrugation medium($.10 per pound)	20	30
Direct labor required per 100 boxes($12.00 per hour)	25	50
The following production-overhead costs are anticipated for the next year. The predetermined overhead rate is based on a production volume of 495,000 units for each type of box. Production overhead is applied on the basis of direct-labour hours.
Indirect Material	10,500
Indirect labor	50,000
Utilities	25,000
Property taxes	18,000
Insurance	16,000
Depreciation	29,000
Total	148,500
The following selling and administrative expenses are anticipated for the next year.
Salaries and fringe benefits of sales personnel	$75,000
Advertising	$15,000
Management salaries and fringe benefits	$90,000
Clerical wages and fringe benefits	$26,000
Miscellaneous adminstrative expenses	$4,000
Total	$210,000
The sales forecast for the next year is as follows:
	Sales Volume	Sales Price	Price Unit
Box type C	500,000	$90	100
Box type P	500,000	$130	100
The following inventory information is available for the next year. The unit production cost for each product are expected to be the same this year and next year.
	Expected Inventory	Desired Ending
	January 1st	December 31st
Finished Goods
Box type C	10,000	5,000
Box type P	20,000	15,000
Raw Materials
Paperboard	15,000	5,000
Corrugating medium	5,000	10,000
Required:
1. Sales Budget
2. Production Budget
3. Direct-material Budget
4. Direct-labor Budget
5. Production-overhead Budget
6. Selling and adminstrative expense budget
7. Budgeted income statement. (Hint: To determine cost of goods sold. First compute the production cost per unit for each type fo box. Include applied production overhead in the cost