Problem 16-55 (Algo) Prepare Flexible Budget (LO 16-2) Odessa, Inc., reports the following information concerning operations for the most recent month: Actual (based on actual of 585 units) $96,300 Master Budget (based on budgeted 650 units) $104,000 Sales revenue Less Manufacturing costs Direct labor Materials 14,172 14,950 11,060 13,000 Variable overhead 9,270 11,050 Marketing 5,552 6,240 Administrative 4,550 4,550 Total variable costs $44,604 $ 49,790 Contribution margin $51,696 $ 54,210 Fixed costs Manufacturing 4,455 4,600 Marketing 9,482 9,100 Administrative 9,263 9,300 Total fixed costs $23,200 $ 23,000 Operating profits $28,496 $ 31,210 There are no inventories. Required: Prepare a flexible budget for Odessa, Inc. (Do not round Intermediate calculations.) ODESSA, INC. Sales revenue Variable costs: Flexible Budget Manufacturing costs: Direct labor Materials Variable overhead Marketing Administrative Total variable costs Contribution margin Fixed costs: Manufacturing Marketing Administrative Total fixed costs Operating profits