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Sheffield 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. Sales Revenue $ 265,000 Cost of goods sold (all variable) 180,000 Gross margin 85,000 Operating expenses 50,000 Operating income $ 35,000 Prepare a flexible budget based on sales of 1,200, 2,660, and 3,820 units. (Round unit values to 2 decimal places eg. 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 eg. -45 or parentheses e.g. (45).)

Sheffield 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. Sales Revenue $ 265,000 Cost of goods sold (all variable) 180,000 Gross margin 85,000 Operating expenses 50,000 Operating income $ 35,000 Prepare a flexible budget based on sales of 1,200, 2,660, and 3,820 units. (Round unit values to 2 decimal places eg. 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 eg. -45 or parentheses e.g. (45).)

Cornerstones of Cost Management (Cornerstones Series)
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter8: Budgeting For Planning And Control
Section: Chapter Questions
Problem 10CE: Coral Seas Jewelry Company makes and sells costume jewelry. For the coming year, Coral Seas expects...
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Sheffield 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. Sales Revenue $ 265,000 Cost of goods sold (all variable) 180,000 Gross margin 85,000 Operating expenses 50,000 Operating income $ 35,000 Prepare a flexible budget based on sales of 1,200, 2,660, and 3,820 units. (Round unit values to 2 decimal places eg. 15.25 and all other answers to O 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).) Unit 1,200 2,660 $ $ $ $ $ %24 %24 %24 > > > > > > >
Transcribed Image Text:Sheffield 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. Sales Revenue $ 265,000 Cost of goods sold (all variable) 180,000 Gross margin 85,000 Operating expenses 50,000 Operating income $ 35,000 Prepare a flexible budget based on sales of 1,200, 2,660, and 3,820 units. (Round unit values to 2 decimal places eg. 15.25 and all other answers to O 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).) Unit 1,200 2,660 $ $ $ $ $ %24 %24 %24 > > > > > > >
Prepare a flexible budget based on sales of 1,200, 2,660, and 3,820 units. (Round unit values to 2 decimal places eg. 15.25 and all other answers to O 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).) Unit 1,200 2,660 3,820 $ $ 2$ $ %24 %24 %24 %24 %24 %24
Transcribed Image Text:Prepare a flexible budget based on sales of 1,200, 2,660, and 3,820 units. (Round unit values to 2 decimal places eg. 15.25 and all other answers to O 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).) Unit 1,200 2,660 3,820 $ $ 2$ $ %24 %24 %24 %24 %24 %24
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