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Problem 9-42 Preparation of Master Budget (LO 9-3, 9-4, 9-5)

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[The following information applies to the questions displayed below.] 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
	C				P
Direct material required per 100 boxes:
Paperboard ($0.32 per pound)		30	pounds			70	pounds
Corrugating medium ($0.16 per pound)		20	pounds			30	pounds
Direct labor required per 100 boxes ($16.00 per hour)		0.20	hour			0.40	hour

The following production-overhead costs are anticipated for the next year. The predetermined overhead rate is based on a production volume of 475,000 units for each type of box. Production overhead is applied on the basis of direct-labor hours.

Indirect material	$	14,400
Indirect labor		64,000
Utilities		48,000
Property taxes		32,000
Insurance		25,000
Depreciation		56,000
Total	$	239,400

The following selling and administrative expenses are anticipated for the next year.

Salaries and fringe benefits of sales personnel	$	138,000
Advertising		31,000
Management salaries and fringe benefits		152,000
Clerical wages and fringe benefits		47,500
Miscellaneous administrative expenses		7,700
Total	$	376,200

The sales forecast for the next year is as follows:

	Sales Volume				Sales Price
Box type C		480,000	boxes		$	120.00	per hundred boxes
Box type P		480,000	boxes			180.00	per hundred boxes

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 Inventory January 1			Desired Ending Inventory December 31
Finished goods:
Box type C	16,500	boxes		11,500	boxes
Box type P	26,500	boxes		21,500	boxes
Raw material:
Paperboard	16,500	pounds		6,500	pounds
Corrugating medium	7,500	pounds		12,500	pounds

Prepare a master budget for FreshPak Corporation for the next year. Assume an income tax rate of 35 percent.

1e. Prepare the direct-labor budget for the next year.

1f. Prepare the production-overhead budget for the next year.

1g. Prepare the selling and administrative expense budget for the next year.

1h. Prepare the budgeted income statement for the next year.

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I just need the numbers that go with these please I am begging I have posted this question three times now:(

Here's the other answers for parts above it if you need it:

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 6. Prepare the selling and administrative expense budget for the next year. X Answer is not complete. Salaries and fringe benefits of sales personnel Advertising Management salaries and fringe benefits Clerical wages and fringe benefits Miscellaneous administrative expenses Total selling and administrative expenses $ 0 7. Prepare the budgeted income statement for the next year. (Do not round intermediate calculations.) X Answer is not complete. Sales revenue Less: Cost of goods sold Gross margin Selling and administrative expenses Income before taxes Income tax expense Net income 5. Prepare the production-overhead budget for the next year. Answer is not complete. Indirect material Indirect labor Utilities Property taxes Insurance Depreciation Total production overhead $ 0 Req Req 3B Prepare the direct-material budget for paperboard. Total Box P 475,000 0.70 332,500 Paperboard Box C Production requirement (number of boxes) 475,000 Raw material required per box (pounds) 0.30 Raw material required for production (pounds) 142,500 Add: Desired ending raw-material inventory Total raw-material needs Less: Beginning raw-material inventory Raw material to be purchased Price (per pound) Cost of purchases (paperboard) 475,000 6,500 481,500 16,500 465,000 0.32 148,800 $ $ 2. Prepare the production budget for the next year. Answer is complete and correct. Box P 480,000 Sales Add: Desired ending inventory Total units needed Less: Beginning inventory Production requirements Box C 480,000 11,500 491,500 16,500 475,000 21,500 501,500 26,500 475,000 Required: 1. Prepare the sales budget for the next year. (Round "Sales price per unit" to 2 decimal places.) Answer is complete and correct. Box C Box P Total 480,000 480,000 Sales (in units) Sales price per unit $ 1.20 $ 1.80 Sales revenue $ 576,000 $ 864,000 $ 1,440,000