Amanda Manufacturing Company prepared the following static budget income statement: Revenues Variable Costs Contribution Margin Fixed Costs $ 341,000 (231,000) 110,000 (54,000) $ 56,000 Net Income The budgeted costs were based on a planned sales volume of 11,000 units. Actual production was 7,200 units. The amount of net income based on a flexible budget of 7,200 units would have been Multiple Choice $10,800. $12,800 $18,000. $177,000