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New Rock, Inc. sells video games it has purchased from a local distributor. The following static ...

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New Rock, Inc. sells video games it has purchased from a local distributor. The following static ...

New Rock, Inc. sells video games it has purchased from a local distributor. The following static budget is based on sales of 8,000 games. However, New Rock only sold 7,800 games during the year. Fixed costs are 30% of total operating expenses.

Sales	$512,000
Cost of goods sold (variable)	230,000
Gross margin	282,000
Operating expenses	220,000
Operating income	$ 62,000

Required:

Prepare a flexible budget.

Textbook

Managerial Accounting

Edition: 4^th

Author: Davis

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