Exercise 21-2 Preparing flexible budgets LO P1 Tempo Company's fixed budget (based on sales of 16,000 units) for the first quarter of calendar year 2017 reveals the following. Fixed Budget $3,296,000 $400,000 672,000 448,000 200,000 1,720,000 1,576,000 Sales (16,000 units) Cost of goods sold Direct materials Direct labor Production supplies Plant manager salary Gross profit Selling expenses Sales commissions Packaging Advertising Administrative expenses Administrative salaries Depreciation office equip. Insurance Office rent Income from operations 128,000 240,000 100,000 468,000 250,000 220,000 190,000 200,000 860,000 248,000 Complete the following flexible budgets for sales volumes of 14,000, 16,000, and 18,000 units. (Round cost per unit to 2 decimal places.) TEMPO COMPANY Flexible Budgets For Quarter Ended March 31, 2017 Flexible Budget Flexible Budget at - Variable Total Fixed Amount per Cost 18,000 14,000 units 16,000 units Unit units TEMPO COMPANY Flexible Budgets For Quarter Ended March 31, 2017 ------Flexible Budget- -----Flexible Budget at Variable Total Fixed Amount per 14,000 units 16,000 units Cost Unit 18,000 units Variable costs: Fixed costs