Chapter 23-Flexible Budgets and Standard Costs Whidbey Co. fixed budget for the year is shown below: $1,300,000 Cost of goods sold: Direct materials $150,000 450,000 240,000 Overhead (includes $2 per unit variable 840,000 S 460,000 Selling expenses Sales commissions (all variable) ._ Rent (all fixed) Insurance (all fixed) General and administrative expenses: Salaries (all fixed) . .. . Rent (all fixed) 60,000 40,000 35,000 72,000 54,000 31.000 292,000 Net income from operations . . Prepare a flexible budget for Whidbey Co. that shows a detailed budget for its actual sales volume of 42,000 units. Use the contribution margin format