11. Determine the budgeted operating income based on the original budget data. (Always use cell references and formulas where appropriate to receive full credit. Cell references and formulas should be based on the original data. If you copy/paste from the Instructions tab you 2 will be marked wrong.) 3 4 Revenues 5 Variable costs 6 Contribution margin 7 Fixed costs 8 Budgeted operating income 9 $ 11,000,000 7,500,000 3,000,000 10 2. A 10% increase in contribution margin, holding revenues constant (Always use cell references and formulas where appropriate to receive full credit. Cell references and formulas should be based on the original data. If you copy/paste from the Instructions tab you 11 will be marked wrong.) 12 13 Revenues 14 Variable costs 15 Contribution margin 16 Fixed costs 17 Budgeted operating income 18 19 3. A 10% decrease in contribution margin, holding revenues constant (Always use cell references and formulas where appropriate to receive full credit. Cell references and formulas should be based on the original data. If you copy/paste from the Instructions tab you 20 will be marked wrong.) 21 22 Revenues 23 Variable costs 24 Contribution margin 25 Fixed costs 26 Budgeted operating income 27