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Crane Corporations master budget for the year is shown below: Sales (60,700 units) $ 2,306,600 Cost of goods sold: Direct materials $ 212,450 Direct labor
Crane Corporations master budget for the year is shown below: Sales (60,700 units) $ 2,306,600 Cost of goods sold: Direct materials $ 212,450 Direct labor 497,740 Overhead (variable overhead applied at 45% of direct labor cost) 247,000 957,190 Gross profit $ 1,349,410 Selling expenses: Sales commissions (all variable) $ 160,248 Rent (all fixed) 47,000 Insurance (all short-term fixed) 37,000 General expenses: Salaries (all short-term fixed) 95,500 Rent (all short-term fixed)
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