Reference no: EM132942197
Question - Baskin Promotions, Inc. sells T-shirts decorated for a variety of concert performers. The company has developed the following budget for the coming year based on a sales forecast of 80,000 T-shirts:
Sales $1,400,000
Cost of Goods Sold 820,000
Gross Profit 580,000
Operating Expenses ($100,000 is Fixed) 418,400
Operating Income 161,600
Income Taxes (30% of operating income) 48,480
Net Income $113,120
Cost of goods sold and variable operating expenses vary directly with sales, and the income tax rate is 30% at all levels of operating income.
If the concert season is slow due to poor weather, Baskin estimates that sales could fall to as low as 60,000 T-shirts.
Refer to the information above. In a flexible budget for sales of 60,000 T-shirts, how much would Baskin budget for operating expenses?
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