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Neo
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The flexible budget at the 70,000-unit and the 80,000-unit

Customer Question

The flexible budget at the 70,000-unit and the 80,000-unit levels of activity is shown below.

70,000 Units 80,000 Units 90,000 Units

Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,400,000 $1,600,000 $

Cost of goods sold . . . . . . . . . . . . . . . . . . . . 840,000 960,000

Gross profit on sales . . . . . . . . . . . . . . . . . . . $ 560,000 $ 640,000 $

Operating expenses ($90,000 fixed) . . . . . . . 370,000 410,000

Operating income . . . . . . . . . . . . . . . . . . . . . $ 190,000 $ 230,000 $

Income taxes (30% of operating income) . . . 57,000 69,000

Net income . . . . . . . . . . . . . . . . . . . . . . . . . . $ 133,000 $ 161,000 $

Complete the flexible budget at the 90,000-unit level of activity. Assume that the cost of goods
sold and variable operating expenses vary directly with sales and that income taxes remain at 30 percent of op
Submitted: 6 years ago.
Category: Homework
Expert:  Neo replied 6 years ago.
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