(Answered) Problem static and flexible budgetsgraham corporation used

Accounting

Problem: Static and Flexible Budgets

Graham Corporation used the following data to evaluate its current operating system. The company sells items for $10 each and used a budgeted selling price of $10 per unit.

Units sold	590,000	600,000
Variable costs	1,545,000	1,800,000
Fixed costs	1,220,000	1,200,000

Prepare the actual income statement, flexible budget, and static budget.

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