Thomas Co. Provides the following fixed budget data for the year:

Sales(20,000 units) CR: 600,000

Cost of sales:

DM D: 200,000

DL D: 160,000

Variable Overhead D: 60,000

Fixed Overhead D: 80,000 C:500,000

Gross Profit C:100,000

Operating Expenses:

Fixed D:12,000

Var. D: 40,000 C:52,000

Income from Operations C: 48,000

Required:

Prepare the flexible budget that should be used for a performance report assuming that the department will produce 24,000 units. Use cost volume profit format for the flexible budget.