Marigold manufactures aluminum canoes. In planning for the coming year, CFO Alexis King is considering three different sales targets: 2,650 canoes, 3,350 canoes, and 3,810 canoes. Canoes sell for $860 each. The standard variable cost information for a canoe is as follows. Direct materials $ 229 Direct labor 105 Variable overhead Utilities 35 Indirect material 30 Indirect labor 60 Total $ 459 Annual fixed overhead cost is expected to be: Maintenance $ 21,400 Depreciation 40,600 Insurance 28,800 Rent 34,380 Total $ 125,180 Prepare a flexible budget for the three sales levels under consideration. Unit 2,650 3,350 Sales revenue $ $ $ Less : Variable expenses Fixed expenses Variable expenses Operating income Maintenance Total fixed expenses Rent Sales revenue Direct labor Depreciation Contribution margin Indirect material Total variable expenses Direct material Indirect labor Insurance Utilities $ Prepare a flexible budget for the three sales levels under consideration. Unit 2,650 3,350 3,810 $ $ $ $ $ Contribution margin Insurance Maintenance Rent Indirect labor Fixed expenses Indirect material Depreciation Total variable expenses Total fixed expenses Variable expenses Utilities Direct material Operating income Direct labor Sales revenue $ $ Utilities Rent Depreciation Total fixed expenses Direct labor Insurance Indirect labor Total variable expenses Variable expenses Operating income Sales revenue Maintenance Indirect material Contribution margin Fixed expenses Direct material $ $ $