Whidbey Co Prepare a Flexible Budget for Whidbey Co

Whidbey Co. fixed budget for the year is shown below:
$\begin{array}{|l|r|r|} \hline \text { Sales (50,000 units) } &&\$1,300,000\\\hline \text {Cost of goods sold: } &\\ \hline\text { Direct materials} &\$150,000\\\hline \text {Direct labor } &450,000\\\hline \text { Overhead (includes \( \$ 2 \) per unit variable } &\\\text {overhead) } &\underline{240,000}&\underline{840,000}\\ \hline \text { Gross profit } &&\$460,000\\ \hline\text { Selling expenses: } &\\\hline \text {Sales commissions (all variable) } &60,000\\\hline \text { Rent (all fixed) } &40,000\\ \hline\text {Insurance (all fixed) } &35,000\\\hline \text {General and administrative expenses: } &\\ \hline \text { Salaries (all fixed). } &72,000\\\hline \text {Rent (all fixed) } &54,000\\\hline \text {Depreciation (all fixed) } &\underline{31,000}&\underline{292,000}\\\hline \text { Net income from operations } &&\underline{\$168,000}\\ \hline\end{array}$
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.