#4. Magnet Technologies manufactures refrigerator magnets for companies as promotional items. The company's July 2019 Flexible But shows output levels of 3,000, 5,000 and 7,000 units. The static budget was based on 5,000 units Budget Formula $40 $191 Units Sales Variable Expenses Contribution Margin Fixed Expenses Net Income 3,000 $120,000 $57,000 $63,000 $32,000 $31,000 5,000 $200,000 $95,000 $105,000 $32,000 $73,000 7,000 $280,000 $133,000 $147,000 $32,000 $115,000 Magnet Technologies Flexible Budget Performance Report Month Ended July 31, 2019 Flexible Budger Variance Budget Formula Actual Results FawUnfar Flexible Budget Units Sales Revenue 8 Variable Expenses 9 Contribution Margin 10 Fixed Expenses 11 Operating Income 8884 ADOOK #4. Magnet Technologies manufactures refrigerator magnets for companies as promotional items. The company's July 2019 Flexible But shows output levels of 3,000, 5,000 and 7,000 units. The static budget was based on 5,000 units Budget Formula $40 $191 Units Sales Variable Expenses Contribution Margin Fixed Expenses Net Income 3,000 $120,000 $57,000 $63,000 $32,000 $31,000 5,000 $200,000 $95,000 $105,000 $32,000 $73,000 7,000 $280,000 $133,000 $147,000 $32,000 $115,000 Magnet Technologies Flexible Budget Performance Report Month Ended July 31, 2019 Flexible Budger Variance Budget Formula Actual Results FawUnfar Flexible Budget Units Sales Revenue 8 Variable Expenses 9 Contribution Margin 10 Fixed Expenses 11 Operating Income 8884 ADOOK