Elroy Co has prepared the following fixed budget for the year

Question

Elroy Co. has prepared the following fixed budget for the year, assuming production and sales of 30,000 units. This level of production represents 80% of capacity.

ELROY CO. Fixed Budget For Year Ending December 31
Sales		$1,500,000
Cost of goods sold:
Direct materials	$540,000
Direct labor	300,000
Indirect materials (variable)	15,000
Indirect labor (variable)	21,000
Depreciation	180,000
Salaries	90,000
Utilities (80% fixed)	54,000
Maintenance (40% variable)	33,000	1,233,000
Gross profit		$ 267,000
Operating expenses:
Commissions	$ 45,000
Advertising (fixed)	60,000
Wages (variable)	15,000
Rent	30,000
Total operating expenses		150,000
Income from operations		$ 117,000

Calculate the following flexible budget amounts at the indicated levels of capacity:

	Operations at	Operations at
	60% of Capacity	75% of Capacity

Sales	____________	_____________
Total variable costs	____________	_____________
Total fixed costs	____________	_____________
Income from operations	____________	_____________