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Outdoor Outfitters has created a flexible budget for the 70,000-unit and the 80,000-unit levels of...

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Accounting

Outdoor Outfitters has created a flexible budget for the 70,000-unit and the 80,000-unit levels of activity shown as follows. Complete Outdoor Outfitters's flexible budget at the 94,000-unit level of activity. Assume that the cost of goods sold and variable operating expenses vary directly with sales and that income taxes remain at 30 percent of operating income.

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70,000 Units 80,000 Units 94,000 Units 1,400,000 1,600,000 840,000 560,000 Sales $ Cost of goods sold Gross profit on sales Operating expenses ($90,000 fixed) Operating income Income taxes (30% of operating income) Net income 960,000 640,000 370,000 410,000 190,000 $ 230,000 $ $ 57,000 69,000 133,000 $ 161,000 $ 0

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