Whidbey Co. fixed budget for the year is shown below:

Sales (50,000 units)		$1,300,000
Cost of goods sold:
Direct materials	$150,000
Direct labor	450,000
Overhead (includes $2 per unit variable overhead)	240,000	840,000
Gross profit		$460,000
Selling expenses:
Sales commissions (all variable)	60,000
Rent (all fixed)	40,000
Insurance (all fixed)	35,000
General and administrative expenses:
Salaries (all fixed)	72,000
Rent (all fixed)	54,000
Depreciation (all fixed)	31,000	292,000
Net income from operations		$168,000

Required: Prepare a flexible budget for Whidbey Co. that shows a detailed budget for its actual sales volume of 42,000 units. Use the contribution margin format.

Please show work. Thank you!