Additional information Total Assets: $25,009,000. Anticipated ROI was to be 16%. Budgeted sales were based on selling 122,900 units. 110,100 units were actually sold at $132. Actual Expenses are based on the following projections: Cost of Goods sold is 42% of sales. Sales Commissions are calculated at 0.5% of sales. Salaries & Wages Expense are 11% of sales. Manufacturing Expenses are 4% of sales. Other Expenses amount to 1.5% of sales. Depreciation Expense is 1% of sales. Actual Static Budget Net Sales Revenue $13,806,300 $15,642,500 Cost of goods sold $6,441,200 $6,531,100 Gross profit $7,365,100 $9,111,400 Operating Expenses: Sales Commissions $211,300 $ 193,300 Salaries & Wages Expense $1,460,100 $1,458,100 Manufacturing Expenses $876,500 $859,500 Other Expenses $368,100 $301,300 Depreciation Expense $426,300 $471,100 Total Operating Expenses $3,342,300 $3,283,300 Operating Income $4,022,800 $5,828,100 Actual Flex Variance F/U/- Flex Budget Sales Budget F/U/- Static Budget $15,642,500 $6,531,100 $9,111,400 Sales $193,300 > $1,458,100 Net Sales $13,806,300 Revenue Cost of goods $6,441,200 sold Gross profit $7,365,100 Operating Expenses: Commissions $211,300 Salaries & Wages $1,460,100 Expense Manufacturing $876,500 Expenses Other $368,100 Expenses Depreciation $426,300 Expense Total Operating $3,342,300 Expenses Operating $4,022,800 Income $859,500