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. 
Calculate the following flexible budget amounts at the indicated levels of capacity: 
Definitions:
Stated Interest Rate
The annual interest rate declared on a bond or loan, not accounting for compounding or the effect of any fees.
Chi-square
A statistical test used to examine the differences between categorical variables in a contingency table.
Degrees of Freedom
The number of independent values or quantities which can be assigned to a statistical distribution.
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