For an answer to be graded as correct, you must use an Excel formula:

1. Begin each formula with an = sign.
2. Reference cells, instead of entering values.

Example: =B3+C3

Tempo Company's fixed budget (based on sales of 7,000 units) follows. Fixed BudgetFlexible BudgetBudgeted units7,0006,0008,000Selling price per unit$400 Fixed Budget (based on sales of 7,000 units) Sales$2,800,000 Costs Direct materials280,000 Direct labor490,000 Indirect materials175,000 Supervisor salary65,000 Sales commissions140,000 Shipping154,000 Administrative salaries210,000 DepreciationOffice equipment35,000 Insurance20,000 Office rent36,000 Income$1,195,000 Required: 1. Compute total variable cost per unit. 2. Compute total fixed costs. 3. Prepare a flexible budget at activity levels of 6,000 units and 8,000 units. Required: 1. Compute total variable cost per unit. 2. Compute total fixed costs. 3. Prepare a flexible budget at activity levels of 6,000 units and 8,000 units