Nottingham Forest Products reports the following information concerning operations for the most recent month: 

There are no inventories. 

Required

Prepare a flexible budget for Nottingham Forest Products.

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Sales revenue Less Manufacturing costs Direct labor.... Materials.. Variable overhead.. Marketing .... Administrative Total variable costs. Contribution margin Fixed costs Manufacturing.... Marketing... Administrative Total fixed costs.. Operating profits. Actual (based on actual sales of 4,800 units) $228,700 50,302 31,520 16,608 7,805 7,215 $113,450 $115,250 38,930 14,860 9,510 $63,300 $51,950 Master Budget (based on budgeted sales of 4,000 units) $188,000 39,000 27,200 13,100 6,200 6,500 $92,000 $96,000 37,400 12,200 10,400 $60,000 $36,000