1. In Chapter 08, we learned about Flexible Budgets.

   Using the FLEXIBLE BUDGET sample in Chapter 08, , Section 8.1.2, Exhibit 8-3, as your guide, create a flexible budget with two levels of activity.

   At a minimum, each level of activity in your budget should have: Sales, Variable Costs, Contribution Margin, Fixed Costs, Operating Income.

   PLEASE, don't copy other experts' answer. and please show work with numbers so I know how you did the math. Thank you.