Golden Food Products produces special$-$formula pet food. The company carries no inventories. The master budget

calls for the company to manufacture and sell $120,000$ cases at a budgeted price of $$60$ per case this year. The

standard direct cost sheet for one liter of the preservative follows:

Variable overhead is applied based on direct labor$-$hours. The variable overhead rate is $$16$ per direct labor$-$hour.

The fixed overhead rate $($at the master budget level of activity$)$ is $$12$ per unit. All nonmanufacturing costs are fixed

and are budgeted at $$2\mathrm{.}2$ million for the coming year.

At the end of the year, the costs analyst reported that the sales activity variance for the year was $$336,000$

favorable.

Required:

Prepare a flexible budget for Golden Food Products for the year.

Note: Enter your answers in thousands of dollars.

Answer is not complete.