Before the year began, the following static budget was developed for the estimated sales of 100,000. Sales are sluggish and management needs to revise its budget. Use this information to prepare a flexible budget for 80,000 and 90,000 units of sales.

Flexible Budget

	100,000	80,000	90,000
Sales	$3,300,000	$fill in the blank 1	$fill in the blank 2
Cost of Goods Sold
Direct Material	$800,000	$fill in the blank 3	$fill in the blank 4
Direct Labor	900,000	fill in the blank 5	fill in the blank 6
Variable Manufacturing Overhead	250,000	fill in the blank 7	fill in the blank 8
Fixed Manufacturing Overhead	70,000	fill in the blank 9	fill in the blank 10
Cost of Goods Sold	$2,020,000	$fill in the blank 11	$fill in the blank 12
Gross Profit	$1,280,000	$fill in the blank 13	$fill in the blank 14
Variable Sales and Administrative Expenses	100,000	fill in the blank 15	fill in the blank 16
Fixed Sales and Administrative Expenses	950,000	fill in the blank 17	fill in the blank 18
Income Before Taxes	$230,000	$fill in the blank 19	$fill in the blank 20
Taxes	69,000	fill in the blank 21	fill in the blank 22
Net Income/Loss	$161,000	$fill in the blank 23	$fill in the blank 24