Zip-up Company provides the following data developed for its master budget: 
Required:
Prepare flexible budgets for sales of 20,000,22,000 and 24,000 units.Use a contribution margin format.
Definitions:
Equation
An equation is a mathematical statement that asserts the equality of two expressions, typically containing one or more variables.
Binomial Experiment
A statistical experiment that has exactly two possible outcomes for each trial and a fixed number of trials.
Probability
A measure of the likelihood of a certain event or outcome occurring, expressed as a number between 0 and 1.
Probability Distribution
A mathematical function that describes the likelihood of obtaining the possible values that a random variable can assume.
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