X Question 4 - Wee X McGraw-Hill Con X , DES Company mc X , course hero https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl= Saved lomework i Crane Corporation's master budget for the year is shown below. Sales (61,500 units) $ 1,968, 090 Cost of goods sold: Direct materials $ 141, 450 Direct labor 467,490 Overhead (variable overhead applied at 40% of direct labor cost) 255,090 863, 850 Gross profit $ 1, 104, 150 Selling expenses: Sales commissions (all variable) $ 168, 018 Rent (all fixed) 55,090 Insurance (all short-term fixed) 45,090 General expenses: Salaries (all short -term fixed) 99, 508 Rent (all short-term fixed) 84, 500 Depreciation (all short -term fixed) 65, 908 517,918 Operating income $ 587, 132 Required: nces 1. During the year, the company manufactured and sold 56,500 units of product. Prepare a flexible budget for this 2. Now suppose that the actual level of output was 66,500 units. Prepare a flexible budget for this output level. Complete this question by entering your answers in the tabs below. Required 1 Required 2 During the year, the company manufactured and so 56,500 units of product. Prepare a flexible budget for this level of output. (Do not round intermediate calculations.) CRANE CORPORATION Flexible Budget