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Create a flexible budget with the following data.

Revenue Direct re-sale goods Manufactured goods Total sales Income Statement Actual Amounts Budgeted Amounts $2,128,553 $2,100,000 6,677,321 6,468,000 8,805,874 8,568,000 Cost of Goods Sold - Manufactured Items Direct Materials Direct Labor Variable Manufacturing OH Fixed Manufacturing OH Total Cost of Goods Sold - Manufactured Items Cost of Goods Sold - Resale Items Total Cost of Goods Sold 1,460,100 1,580,675 321,633 571,447 986,370 1,290,366 388,080 582,120 3,933,855 1,353,642 5,287,497 3,246,936 1,417,500 4,664,436 Gross Margin 3,518,377 3,903,564 Variable Selling Costs Fixed Selling and Administrative Costs 567,171 538,901 371,700 542,500 Operating Income $2,412,305 $2,989,364 Expected Budget - Total # of Direct Resale Items to be sold Actual # of direct re-sale items sold Expected Budget - total # of Manufactured items sold Actual # of manufactured items sold Exp. Cost (budget) of Direct Material Actual Cost of Direct Material Expected (budget) cost per Direct Labor Actual Cost per direct Labor 60,000 19,618 23,100 13,745 $5.50 $6.20 $13.30 $12.50 Revenue Direct re-sale goods Manufactured goods Total sales Income Statement Actual Amounts Budgeted Amounts $2,128,553 $2,100,000 6,677,321 6,468,000 8,805,874 8,568,000 Cost of Goods Sold - Manufactured Items Direct Materials Direct Labor Variable Manufacturing OH Fixed Manufacturing OH Total Cost of Goods Sold - Manufactured Items Cost of Goods Sold - Resale Items Total Cost of Goods Sold 1,460,100 1,580,675 321,633 571,447 986,370 1,290,366 388,080 582,120 3,933,855 1,353,642 5,287,497 3,246,936 1,417,500 4,664,436 Gross Margin 3,518,377 3,903,564 Variable Selling Costs Fixed Selling and Administrative Costs 567,171 538,901 371,700 542,500 Operating Income $2,412,305 $2,989,364 Expected Budget - Total # of Direct Resale Items to be sold Actual # of direct re-sale items sold Expected Budget - total # of Manufactured items sold Actual # of manufactured items sold Exp. Cost (budget) of Direct Material Actual Cost of Direct Material Expected (budget) cost per Direct Labor Actual Cost per direct Labor 60,000 19,618 23,100 13,745 $5.50 $6.20 $13.30 $12.50

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