Golden Food Products produces special-formula pet food. The company carries no inventories. The master budget calls for the company to manufacture and sell 160,000 cases at a budgeted price of $100 per case this year. The standard direct cost sheet for one case of pet food follows:

Direct materials	(5 pounds @ $2)	$ 10
Direct labor	(0.25 hours @ $32)	8

Variable overhead is applied based on direct labor-hours. The variable overhead rate is $96 per direct labor-hour. The fixed overhead rate (at the master budget level of activity) is $32 per unit. All nonmanufacturing costs are fixed and are budgeted at $4.2 million for the coming year.

At the end of the year, the costs analyst reported that the sales activity variance for the year was $464,000 favorable.

Required:

Note: Enter your answers in thousands of dollars.

\begin{tabular}{|l|l|} \multicolumn{1}{c|}{ GOLDEN FOOD PRODUCTS } \\ \multicolumn{1}{|c|}{ Flexible Budget } \\ \hline (thousands of dollars) & \\ \hline Sales revenue & \\ \hline Variable costs: & \\ \hline Direct materials & \\ \hline Direct labor & \\ \hline Variable overhead & \\ \hline Total variable costs & \\ \hline Contribution margin & \\ \hline Fixed costs: & \\ \hline Marketing & \\ \hline Fixed overhead & \\ \hline \hline \end{tabular}