Reference: Survey of Accounting 6th edition Book

Based on Chapter 15

Multiple Choice

Amanda Manufacturing Company prepared the following static budget income statement: Revenues $ M316J 25!?! Variable Costs {2811258) Contribution Margin 1251833 Fixed Costs (6816813) Net Income $ ESJGBB The budgeted costs were based on a planned sales volume of'12,500 units. Actual production was 1500 units. The amount of net income based on a flexible budget of 7,500 units would have been