(It's worth noting the dropdown options for column 1 are as follows: For rows 1 and 3-8 the options are Total Variable Expenses, Sales revenue, Variable Expenses, Contribution margin, Costs of goods sold, Operating expenses, Operating Income, Fixed expenses. For row 2 the first dropdown option is for Less and 'Add'. The second drop down option is for the 8 options listed above.

Vaughn Sports sells volleyball kits that it purchases from a sports equipment distributor. The following static budget based on sales of 2,500 kits was prepared for the year. Fixed operating expenses account for 75% of total operating expenses at this level of sales. Prepare a flexible budget based on sales of 1,200,2,920, and 3,940 units. (Round unit values to 2 decimal places e.g. 15.25 and all other answers to 0 decimal places, e.g. 1525. If operating income is negative, enter amounts using a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) 2,920$3,940$ $ $ $ $ $