Exercise $14-29($Algo$)$ Generating a Flexible Budget; Spreadsheet Application $[$LO $14-3]$

Crane Corporation's master budget for the year is shown below:

Required:

During the year, the company manufactured and sold $55,300$ units of product. Prepare a flexible budget for this level of output.

Now suppose that the actual level of output was $65,300$ units. Prepare a flexible budget for this output level.