McElroy Company has prepared the following master budget for 2021. Although McElroy has the capacity to manufacture 50,0

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McElroy Company has prepared the following master budget for
2021. Although McElroy has the capacity to manufacture 50,000
units, management expected the likely demand for its product to be
40,000 units in 2021; as such, it prepared the master budget to
manufacture and sell 40,000 units. In early January 2022, the
company was pleasantly surprised to find out that it manufactured
and sold 45,000 units in 2021.
Required:
Prepare the flexible budget (FB) for the actual operating level
achieved in 2021.
Please include the process