2) Paradise Marina LLC static budget for the year is shown below: $1,300,000 $125,000 400,000 180,000 705,000 595,000 Sales (50,000 units) Cost of Goods Sold: Direct Material Direct Labor Overhead (includes $2 per unit Variable cost) Gross Profit Selling Expenses Sales Commissions (Variable) Rent (Fixed) Insurance (Fixed) General and administrative expenses Salaries (fixed) Rent (Fixed) Depreciation (Fixed) 50,000 70,000 35,000 90,000 40,000 30,000 315,000 $ 280.000 Prepare a flexible budget for Paradise Marina that shows a detailed budget for its static budget and its actual sales volume of 60,000 units. Use the contribution margin approach. 50,000 units 60,000 units Sales Variable Cost: Direct Materials Direct Labor Variable OH Sales Commission Total Variable Cost Contribution Margin Fixed Cost: Fixed OH Rent Expense - Selling Insurance Expense Salaries Expense Rent Expense - General Depreciation Expense Total Fixed Cost Income from Operations