- A Format Painter Clipboard Font E8 fr 180000 G 1 Christina has opened a pizza shop that sells only pizzas. 2 Her income statement for the first year is below. 3 Christina's Nothing But Pizza 4 Income Statement For the Year Ended December 31, 2018 5 6 7 Sales Revenue 12,000 pizzas $ 180,000 30,000 150,000 Cost of Goods Sold 10 Gross Profit Operating Expenses Utilities 11 12 $ 30,000 60,000 10,000 3,500 13 Salaries and Wages Depreciation Insurance 14 15 Website 16 100 Rent 18 Operating Income 17 24.000 127,600 22,400 $ 19 20 Additional information: 21 22 1 Cost of Goods Sold is a variable cost at 23 2. Utlities are a mixed cost at 3, Salaries and wages cost 4. Pizza selling price is 26 5. All other fixed costs are expected to remain the same nest year per pizza. $1 $1,000 $4,000 per unit. per month plus per month plus per pizza. 24 $2 per pizza. 25 27 Christina would like to budget her income statement for nest gear. 23 She is hoping to have a 10% inorease in sales but is not sure if that is too high. So, she would like a flexible budget that shows both 28 30 31 a 5% and 10% increase in sales. 32 33 Required: Create a new work sheet titled"2019 Budget." 34 Prepare a flexible budget for 2019 under the two scenarios- 35 5% and 10% inorease. Use the contribution format. 36 Hint: You will need to calculate the COGS and selling price per pizza 37 Use a formula to do that. 38 Data Ready $2