required: prepare -a master budget for Freshpak corporation for the next year. assume an income tax rate of 40 percent. include schedule of direct material budget.

The following selling and administrative expenses are anticipated for the next year. Salaries and fringe benefits of sales personnel Advertising Management salaries and fringe benefits Miscellaneous administrative expenses $95,000 56,000 60,000 46,000 4,000 $257,000 Clerical wages and fringe benefits Total 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. Finished goods: Box type C Box type P Sales Volume boxes 500,000 500,000 Sales Price per hundred boxes $150.00 200 Finished goods: Expected inventory Jan 1st Desired inventory Dec 31st Box type C 30,000 7,000 boxes Box type P 15,000 Raw material: Paperboard Corrugating medium 30,000 15,000 20,000 boxes 5,000 pounds 10,000 pounds