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Green Pastures Static Budget Income Statement | 1 ACC/561 Version 7 University of Phoenix Material Green Pastures Static Budget Income Statement For the Year Ended December 31, 2017 Actual Master Budget Difference Number of Mares 52 60 Number of Boarding Days 19.000 21 900 2.900 L Sales 5380 000 $547 500 $167 500 1 Less: Variable Expenses Feed 104,390 109,500 5,110 F Veterinary Fees 58.838 65,700 6,862 F Blacksmith Fees 4.984 5,475 491 F Supplies 10 178 12 045 Total Variable Expenses 178 390 192 720 14 330 F Contribution Margin 201 610 354 780 153 170 U Less: Fixed Expenses Depreciation 40,000 40,000 Insurance 11,000 11,000 Utilities 12,000 14,000 2,000 F Repairs and Maintenance 10,000 11,000 1,000 F Labor 88,000 95,000 7,000 F Advertisement 12,000 8,000 4,000 U Entertainment 7,000 5,000 2,000 U Total Fixed Expenses 180,000 184,000 4,000 F Net Income $21 610 $170 780 $149 170 U