The following static budget is provided: Units Sales Less variable costs: 25,000 Units $250,000 Manufacturing costs $ 80,000 Selling and administrative costs $57,500 $112, 506 Contribution margin Less fixed costs: $ 27, 500 Selling and administrative costs $ 21,250 $ 63,750 Manufacturing costs Net Income What will budgeted net income equal if 23,000 units are produced and sold? (Do not round intermediate calculations.) Multiple Choice $54,750 $500,000 $32.800 $38.750