Osage, Inc., manufactures and sells lamps. The company produces only when it receives orders and, therefore, has no inventories. The following information is available for the current month:

Required:

Prepare a flexible budget for Osage, Inc. (Do not round intermediate calculations.)

Actual (based on actual orders for 450,000 units) $4,975,000 Master Budget (based on budgeted orders for 480,000 units) $4,800,000 Sales revenue Less Variable costs Materials Direct labor Variable overhead Variable marketing and administrative Total variable costs Contribution margin Less Fixed costs Manufacturing overhead Marketing Administrative Total fixed costs Operating profits 1,536,000 245,000 530,100 445,500 $2,756,600 $2,218,400 1,536,000 312,000 480,000 456,000 $ 2,784,000 $2,016,000 883,100 276,000 199,000 $1,358, 100 $ 860,300 855,000 276,000 175,000 $1,306,000 $ 710,000 Required: Prepare a flexible budget for Osage, Inc. (Do not round intermediate calculations.) $ 4,500,000 OSAGE, INC. Flexible Budget Sales revenue Variable costs: Materials Direct labor Variable overhead Variable marketing and administrative Total variable costs Contribution margin Fixed costs: Manufacturing overhead Marketing Administrative Total fixed costs Operating profit loss) 1,440,000 292,500 450,000 427,500 2,610,000 1,890,000 $ $ $ 0 $ 1,890,000