Woodruff Company prepared the following budgeted income statement for 2019: BE: (Click the icon to view the budgeted income statement.) 1 Data Table - X boo units Woodruff Company Budgeted Income Statement For the Year Ended December 31, 2019 Unit sales $ 1,000 750,000 300,000 Sales Revenue ($750 per unit) Cost of Goods Sold (40% of sales) Gross Profit Selling and Administrative Expenses (20% of sales) 450,000 150,000 $ 300,000 Operating Income llows WC Print Done analysis Requirement 1. Prepare a budgeted income statement with columns for 900 units, 1,000 units, and 1,900 units sold. Woodruff Company Budgeted Income Statement For the Year Ended December 31, 2019 1,000 Unit sales 900 1,900 Sales Revenue Cost of Goods Sold Gross Profit Selling and Administrative Expenses Operating Income Operating Income Requirement 2. How might managers use this type of budgeted income statement? The budgeted income statement prepared in Requirement 1 is a V budget. It allows Woodruff's managers to plan for sales level(s). Requirement 3. How might spreadsheet software such as Excel assist in this type of analysis? Technology, such as Excel spreadhseet software, makes it more to conduct V and prepare a company's If managers have a better understanding of how changes in sales volume and costs are likely to affect V, they can y can if key assumptions turn out to be wrong. Enter any number in the edit fields and then continue to the next