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Required information Problem 9-42 Preparation of Master Budget (LO 9-3, 9-4, 9-5) [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 inhar maniukmetabls. 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 applled on the basis of direct is labor The following selling and administrative expenses are anticipated for the next yeyr The following selling and administrative expenses are antlipated for the next year: The sales forecast for the next year is as follows: 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. 2. Prepare the production budget for the next year. 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. Prepare the direct-material budget for 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. Prepare the direct-material budget for corrugating medium. 4. Prepare the direct-labor budget for the next year. (Do not round intermediate calculations. Round "Direct labor require (hours)" to 4 decimal places.) 5. Prepare the production-overhead budget for the next year. 6. Prepare the selling and administrative expense budget for the next year. 7. Prepare the budgeted income statement for the next year. (Do not round intermediate calculations