12 Nottingham Forest Products reports the following information concerning operations for the most recent month: Actual (based Master Budget (based on on actual sales budgeted sales of 4,980 units) $ 237,700 of 4,150 units) $ 195,050 Sales revenue Less Manufacturing costs Direct labor Materials 50,362 39,060 31,580 27,260 Variable overhead 16,668 13,160 Marketing 7,865 6,260 Administrative 7,275 6,560 Total variable costs $ 113,750 $ 92,300 Contribution margin $ 123,950 $ 102,750 Fixed costs Manufacturing Marketing 39,020 14,920 37,460 12,260 10,460 Administrative 9,600 Total fixed costs $ 63,540 $ 60,180 Operating profits $ 60,410 $ 42,570 There are no inventories. Required: Prepare a flexible budget for Nottingham Forest Products. Note: Do not round intermediate calculations. Required: Prepare a flexible budget for Nottingham Forest Products. Note: Do not round intermediate calculations. NOTTINGHAM FOREST PRODUCTS Flexible Budget Sales revenue Variable costs: Manufacturing costs: Direct labor Materials Variable overhead Marketing Administrative Total variable costs $ 0 Contribution margin $ 0 Less fixed costs: Manufacturing Marketing Administrative Total fixed costs Operating profit $ 0 $ 0