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: Actual (based on actual orders for 450,000 units) $4,966,000 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 1,536,000 250,000 530,800 421,500 $2,738,300 $2,227,700 1,536,000 312,000 480,000 432,000 $2,760,000 $2,040,000 958,800 275,000 194,000 $1,427,800 $ 799,900 930,000 275,000 171,000 $1,376,000 $ 664,000 Required: Prepare a flexible budget for Osage, Inc. (Do not round intermediate calculations.) 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)