Thomas Co. Provides the following fixed budget data for the year:
Sales(20,000 units) CR: 600,000
Cost of sales:
DM D: 200,000
DL D: 160,000
Variable Overhead D: 60,000
Fixed Overhead D: 80,000 C:500,000
Gross Profit C:100,000
Var. D: 40,000 C:52,000
Income from Operations C: 48,000
Prepare the flexible budget that should be used for a performance report assuming that the department will produce 24,000 units. Use cost volume profit format for the flexible budget.
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