The following inventory information is available for the next year. The unit production costs for each product are espected to be the same this year and next year Expected Inventory Desired Ending Inventory January I December 31 Finished goods Box type C Box type P 0,000 boxes 20,000 boxes 5,000 boxes 15,000 boxes Raw material Paperboarod Corrugating medium 15,000 pounds 5,000 pounds 5,000 pounds 10,000 pounds Required Icula Prepare the following budgets for Gannon Corporation for the next year 1.Sales budget. 2. Production budget. 3. Direct-material budget (in quantities and dollars). 4. Direct-labor budget. 5. Production-overhead budget. 6. Seling and administrative expense budget The following inventory information is available for the next year. The unit production costs for each product are espected to be the same this year and next year Expected Inventory Desired Ending Inventory January I December 31 Finished goods Box type C Box type P 0,000 boxes 20,000 boxes 5,000 boxes 15,000 boxes Raw material Paperboarod Corrugating medium 15,000 pounds 5,000 pounds 5,000 pounds 10,000 pounds Required Icula Prepare the following budgets for Gannon Corporation for the next year 1.Sales budget. 2. Production budget. 3. Direct-material budget (in quantities and dollars). 4. Direct-labor budget. 5. Production-overhead budget. 6. Seling and administrative expense budget