Please solve the multi part problem.
FreshPak Corporation manufactures two types of cardboard boxes used in shipping canned food, fruit, and vegetables. The canned food box {type C] and the perishabie food box (type P} have the foliowing materiai and labor requirements. Type of Box C P Direct material required per 100 boxes: Paperboard ($0.32 per pound) 50pounds 90pounds ggzgggating medium ($0.16 per 40pounds 50pounds Direct labor required per 100 boxes 0.35hour 0.70hour ($16.00 per hour) r_____________________________________________________ The following productionoverhead costs are anticipated for the next year. The predetermined overhead rate is based on a production voiume of 440,000 units for each type of box. Production overhead is applied on the basis of directlabor hours. Indirect material $ 13'356 Indirect labor 91,650 Utilities 37,500 Property taxes 25,000 Insurance 18,000 Depreciation 45.500 Total $231,000 ' The following selling and administrative expenses are anticipated for the next year. Salaries and fringe benefits of sales personnel $127'506 Advertising 27,500 Management salaries and fringe benefits 145'306 Clerical wages and fringe benefits 44,000 Miscellaneous administrative 7,000 expenses Total $351,000 l The sales forecast for the next year is as foilows: Sales Volume Sales Price Box per hundred type C 445,000 boxes $115.00 boxes Box , per hundred type P 445, 000 boxes 175. 00 boxes I The following inventory information is available for the next year. The unit production costs for each product are expected to be the same this year and next year. Expected Egif Inventory Inventory January 1 December 31 Finished goods: Box type C 20,000boxes 15,000boxes Box type P 36,000boxes 25,000boxes Raw material: Paperboard 13,000pounds 3,060pounds Corrugating , medium 4,000pounds 9,000pounds ' Prepare a master budget for FreshPak Corporation for the next year. Assume an income tax rate of 40 percent. Required: 1. Prepare the sales budget for the next year. {Round "Sales price per unit\" to 2 decimal places.) Sales in units -] Sales price per unit Sales revenue 2. Prepare the production budget for the next year. Box C Box P Sales Total units needed Production requirements3-a. Prepare the direct-material budget for paperboard. 3-b. Prepare the direct-material budget for corrugating medium. Complete this question by entering your answers in the tabs below. Req 3A Req 3B Prepare the direct-material budget for paperboard. Paperboard Box C Box P Total Production requirement (number of boxes) Raw material required per box 0.50 0.90 (pounds) Raw material required for production (pounds) 3,000 Total raw-material needs Raw material to be purchased Price (per pound) $ 0.32 Cost of purchases (paperboard) 3-a. Prepare the direct-material budget for paperboard. 3-b. Prepare the direct-material budget for corrugating medium. Complete this question by entering your answers in the tabs below. Req 3A Req 3B Prepare the direct-material budget for corrugating medium. Corrugating Medium Box C Box P Total Production requirements (number of boxes) Raw material required per box 0.40 0.50 (pounds) Raw material required for production (pounds) 9,000 Total raw-material needs Raw material to be purchased Price (per pound) $ 0.16 Cost of purchases (corrugating medium) 4. Prepare the direct-labor budget for the next year. (Do not round intermediate calculations. Round "Direct labor required per box (hours)" to 4 decimal places.) Box C Box P Total Production requirements (number of boxes) Direct labor required per box (hours) Direct labor required for production (hours) Direct-labor rate Total direct-labor cost\f6. Prepare the selling and administrative expense budget for the next year. Total selling and administrative expenses $ 0\\J 7. Prepare the budgeted income statement for the next year. {Do not round intermediate calculations.)
