E9-2 (Algo) Preparing Flexible Budget for Manufacturing Costs [LO 9-2] Olive Company makes silver belt buckles. The company's master budget appears in the first column of the table. Required: Complete the table by preparing Olive's flexible budget for 5,500, 7,500, and 8,500 units. (Round your intermediate calculations to 2 decimal places.) X Answer is complete but not entirely correct. Master Budget (6,500 Units) 650 Flexible Budget (5,500 Units) Flexible Budget (7,500 Units) Flexible Budget (8,500 Units) Direct materials 1,300 $ 1,100 X $ 1,700 X 2,600 $ 3,250 X $ 2,750 X $ 4,250 X 1,300 $ 1,950 X $ 1,650 X $ 2,550 X Direct labor Variable manufacturing overhead Fixed manufacturing overhead Total manufacturing cost 17,500 17,100 X $ 17,100 X $ 17,100 X $ 22,050 23,600 X $ 22,600 X $ 25,600 X