Toas Toe Inc. (TI) is a manufacturer of heating elements for toaster overs. To improve control over operations, the president wants to install a flexible budgeting system, rather than the single master budget being used at present. The following data are available for expected costs for production. The relevant range of production levels for fixed overhrad costs is 90,000 to 200.000 units: Variable costs: Manufacturing Administrative Selling Fixed costs: Manufacturing Administrative $ $ $ 10.75/unit 7.75/unit 5.75/unit $250,100 $127,500 Required: Prepare a flexible budget for each of the three possible sales levels: 128,000, 138,000, and 148,000 units. Each toaster oven is expected to sell for $27.20. MOCKTOE INC. Flexible Budget Cost Formula (per toaster) 128000 Activity (toasters) 138000 1 48000 Variable costs: Manufacturing Administrative Selling 10.75 7.75 5.75 Total variable costs $ 24.25 $ 0 $ 0 $ 0 Fixed costs: Manufacturing Administrative Total fixed costs Total costs $ $ 0 0 $ $ 0 0 $ $