Crane Corporation's master budget for the year is shown below $ 2,832,888 $ 172,488 474,320 256, Sales (61, 602 units) Cost of goods solo: Direct materials Direct labon Overhead (variable overhead applied at 45% of direct labor cost) Gross profit Selling expenses Sales comissions (all variable) Rent (all fixes Insurance (all short-term Fixed) General expenses: salaries (all short-ters fixed) Rent (all short term fixed) Depreciation (all short-term fixed) Operating income 902, eae $ 1,138,00 $ 151,884 56,000 45,000 100 see 85 de 65, da $14.084 $ 615,916 Required: 1. During the year, the company manufactured and sold 56.600 units of product. Prepare a flexible budget for this level of outp 2 Now suppose that the actual ievei of output was 66,600 units Prepare a flexible budget for this output level. Complete this question by entering your answers in the tabs below. Required i Required 2 Now suppose that the actual level of output was 66,600 units. Prepare a flexible budget for this output level. (Do not round intermediate calculations.) CRANE CORPORATION Flexible Budget Sales Less: Cost of goods sold Direct materiais Direct labor Manufactunng overhead Variable Fixed Gross profit Esss Operating expenses Selling expenses Sales commissions Rent Insurance General expenses. Salanes Rent Depreciation Operating income