Problem - The following information is from Franklin Industries master budget for 2008:
Number of units 15,000
Sales revenue $585,000
Direct materials 165,000
Direct labor 90,000
Variable factory overhead 120,000
Fixed factory overhead 75,000
Variable selling and administrative expenses 60,000
Fixed selling and administrative expenses 20,000
Prepare flexible budgets for the production and sale of 14,000, 15,000 and 16,000 units, respectively.