Exercise 21-2 Preparing flexible budgets LO P1 Tempo Company's fixed budget (based on sales of 10,000 units) for the first quarter of calendar year 2017 reveals the following. Pixed Budget $2,140,000 $240,000 430,000 270,000 40,000 980,000 1,160,000 Sales (10,000 units) Cost of goods sold Direct materials Direct labor Production supplies Plant manager salary Gross profit Selling expenses Sales commissions Packaging Advertising Administrative expenses Administrative salaries Depreciation-office equip. Insurance Office rent Income from operations 80,000 150,000 100,000 330,000 90,000 60,000 30,000 40,000 220,000 $ 610,000 Complete the following flexible budgets for sales volumes of 8,000, 10,000, and 12,000 units. (Round cost per unit to 2 decimal places.) TEMPO COMPANY Flexible Budgets For Quarter Ended March 31, 2017 Flexible Budget ---Flexible Budget at -- Variable Total Fixed Amount per Cost 8,000 units 10,000 units 12,000 units Complete the following flexible budgets for sales volumes of 8,000, 10,000, and 12,000 units. (Round cost per unit to 2 decimal places.) TEMPO COMPANY Flexible Budgets For Quarter Ended March 31, 2017 Flexible Budget- ---Flexible Budget at Variable Total Fbted Amount per Cost 8,000 units 10,000 units 12,000 units Unit $ 2,140,000 Sales Variable costs: Direct materials Direct labor Production supplies Sales commissions Packaging 0.00 0 0 0 Total variable costs Contribution margin Fixed costs: Plant manager salary Advertising Administrative salaries Depreciation - Office equip Insurance Office rent 0 0 0 0 Total fixed costs Income from operations