ABC Corporation has the following information related to the static budget of $100,000$ units.

Sales Price per Unit: $$90$

Direct Material per Unit: $$30$

Direct Labor per Unit: $$15$

Variable Manufacturing Overhead per Unit: $$13$

Fixed Manufacturing Overhead: $$75,000$

Variables Sales and Administrative Expenses per Unit: $$3$

Fixed Sales and Administrative Expenses: $$25,000$

Taxes: $30\%$

You are the accounting manager at ABC Corporation. You had prepared the budget based on $100,000$ units being produced; however, $120,000$ units were actually produced. Everyone that received the budget report from the $120,000$ units was surprised in the differences between the original budget they had seen $(100,000$ units$)$ and the budget report based on actual units produced $(120,000$ units$).$ You have been requested to do a presentation for everyone explaining the differences in the two budgets. Prepare the budgeted income statement based on $100,000$ and prepare a flexible budgeted income statement for the $120,000$ units produced report to be included in your presentation. Make sure you are include the calculations and the reason why each of the numbers changed in your presentation.