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 Clerical wages and fringe benefits Miscellaneous administrative expenses $120.000 25,000 140,000 41.500 6,500 $333,000 Total The sales forecast for the next year is as follows: Box type C Box type P Sales Volume 420,000 boxes 420,000 boxes Sales Price $140.00 per hundred boxes 200.00 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 Depired Ending Inventory December 31 Pinished goods: Box type C Box type P Raw materiali Paperboard Corrugating medium 15,000 boxes 25,000 boxes 10.000 boxes 20,000 boxes 17,500 pounds 7.500 pounds 7,500 pounds 12,500 pounds Prepare a master budget for Fresh Pak Corporation for the next year. Assume an income tax rate of 35 percent. Paperboard Corrugating medium 17,500 pounds 7,500 pounds 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. Problem 9-42 Part 5 5. Prepare the production-overhead budget for the next year. Depreciation Indirect labor Indirect material insurance Property taxes Utilities Total production overhead