Woodruff Company prepared the following budgeted income statement for 2019: E (Click the icon to view the budgeted income statement.) - X O Data Table Read the requirements Requirement 1. Prepare a budgeted income statement with columns for 1,200 units, 1,400 units, and 1,900 units sold. Woodruff Company Woodruff Company Budgeted Income Statement For the Year Ended December 31, 2019 Budgeted Income Statement For the Year Ended December 31, 2019 Unit sales 1,400 Unit sales 1,200 1,400 1,900 Sales Revenue ($550 per unit) 770,000 308,000 Sales Revenue Cost of Goods Sold (40% of sales) Cost of Goods Sold Gross Profit 462,000 192,500 Gross Profit Selling and Administrative Expenses (25% of sales) 269,500 Selling and Administrative Expenses Operating Income Operating Income Requirement 2. How might managers use this type of budgeted income statement? Print Done The budgeted income statement prepared in Requirement 1 is a V budget. It allows Woodruff's managers to plan for sales level(s). Requirement 3. How might spreadsheet software such as Excel assist in this type of analysis? Technology, such as Excel spreadhseet software, makes it more to conduct and prepare a company's If managers have a better understanding of how changes in sales volume and costs are likely to affect V, they can V if key assumptions turn out to be wrong.