Problem 16-50 Prepare Flexible Budget (LO 16-2)

Odessa, Inc., reports the following information concerning operations for the most recent month:

	Actual (based on actual of 630 units)						Master Budget (based on budgeted 700 units)
Sales revenue		$	104,360					$	112,000
Less
Manufacturing costs
Direct labor			13,948						14,700
Materials			15,210						17,150
Variable overhead			9,440						11,200
Marketing			6,042						6,720
Administrative			6,300						6,300
Total variable costs		$	50,940					$	56,070
Contribution margin		$	53,420					$	55,930
Fixed costs
Manufacturing			4,650						4,800
Marketing			9,488						9,100
Administrative			9,057						9,100
Total fixed costs		$	23,195					$	23,000
Operating profits		$	30,225					$	32,930

There are no inventories.

Required:

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

ODESSA, INC.
Flexible Budget
Sales revenue
Variable costs:
Manufacturing costs:
Direct labor
Materials
Variable overhead
Marketing
Administrative
Total variable costs	$0
Contribution margin	$0
Fixed costs:
Manufacturing
Marketing
Administrative
Total fixed costs	$0
Operating profits	$0