Problem 16-53 Prepare Flexible Budget (LO 16-2) The results for July for Brahms & Sons follow: Actual (based on actual sales of 60,000 units) Master Budget (based on budgeted sales of 50,000 units) Sales revenues $ 459,000 $ 470,000 Less Variable costs Direct material 57,800 47,000 Direct labor 54,900 64,000 Variable overhead 63,300 64,000 Marketing 21,500 21,000 Administration 19,500 21,000 Total variable costs $ 217,000 $ 217,000 Contribution margin $ 242,000 $ 253,000 Less Fixed costs Manufacturing 92,100 90,000 Marketing 22,800 20,000 Administration 76,400 $ 75,000 Total fixed costs $ 191,300 $ 185,000 Operating profits $ 50,700 $ 68,000 Required: Prepare a flexible budget for Brahms & Sons for July. (Do not round intermediate calculations.)