PLEASE PROVIDE FORMULA Joes Company's fixed budget for the upcoming year is based on sales and production of 7,700 units. This represents 70% of its productive capacity of 11,000 units. The budgeted selling price is $420 per unit. Variable costs are budgeted to be $290 per unit. Total budgeted fixed costs are $640,000. Prepare a flexible budget at 60% and 80% of productive capacity.
	Fixed Budget
	For the year ended December 31, 2022
		Per Unit	Total
	Sales	$420	$3,234,000
	Variable costs	290	2,233,000
	Contribution margin	$130	1,001,000
	Fixed Expenses		640,000
	Operating Income		$361,000
	Productive Capacity	11,000	units
	Flexible Budget
	For the year ended December 31, 2022
	% of productive capacity	60%	70%	80%
	Units produced and sold		7,700
	Sales		$3,234,000
	Variable costs		2,233,000
	Contribution margin		1,001,000
	Fixed expenses		640,000
	Operating income		$361,000