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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

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: image text in transcribedimage text in transcribed

Actual (based onMaster Budget (based actual orders for 450,000 units) $4,492,000 on budgeted orders for 480,000 units) $4,320,000 Sales revenue Less Variable costs Materials Direct labor Variable overhead Variable marketing and administrative 1,440,000 251,000 674,100 371,500 1,440,000 312,000 624,000 384,000 Total variable costs Contribution margin Less Fixed costs Manufacturing overhead Marketing Administrative 603,500 175,000 132,000 575,000 175,000 110,000 $860,000 $700,000 Total fixed costs Operating profits $ 844,900

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