D CHERO SAVE YOUR WORK A15 B A 1 Alaska Company expressed the total expenses (Y) component of its master budget for February with the cost formula Y = $100,000+ $40 * X. The budgeted average selling price per unit was $65 for budgeted sales volume 5,000 units. Reported actual results for February were as follows: 2 5,400 3 Units produced and sold $324,000 4 Sales revenue $194,400 15 Less variable costs $129,600 6 Contribution margin $102,000 7 Less fixed expenses $27,600 8 Operating income 9 10 Required: Calculate the company's flexible budget operating income (loss) for February that would appear in a performance report. (5 11 marks) Show supporting calculations. 12 13 Sales revenue 324,000 14 variable expenses 15 16 Contribution margin -7 Cost of Goods Sold 8 fixed expenses 9 Gross Profit variable expenses Operating Expenses Sales revenue Number of units