0 Required information [The following information applies to the questions displayed below.) Phoenix Company reports the following fixed budget. It is based on an expected production and sales volume of 15,300 units. $ 3,213,000 PHOENIX COMPANY Fixed Budget For Year Ended December 31 Sales Costs Direct materials Direct labor Sales staff commissions Depreciation Machinery Supervisory salaries Shipping Sales staff salaries (fixed annual amount) Administrative salaries Depreciation office equipment Income 994,500 214,200 76,500 305,000 202,000 244,800 246,000 569,350 200,000 $ 160,650 Phoenix Company reports the following actual results. Actual sales were 18,300 units, $ 3,888,750 Sales (18,300 units) Costa Direct materials Direct labor Sales staff commissione Depreciation Machinery Supervisory salaries Shipping sales staff salaries (fixed annual amount) Administrative salarien Depreciation office equipment Income $ 1,204,140 263, 520 82,350 305,000 216,000 284,565 262,000 577,350 200,000 493,825 Required: Prepare a flexible budget performance report for the year. (Indicate the effect of each variance by selecting "Favorable" or *Unfavorable". Select "No variance" and enter "O" for zero variance.) PHOENIX COMPANY Flexible Budget Performance Report Flexible Budget (18,300 Actual Results (18,300 units) units) For Year Ended December 31 Variances Favorable/Unfavorable $ 3,843,000 $ 3,888,750 $ 45.750 Favorable Sales Variable costs Direct materials Direct labor Salos staff commissions Shipping 0 0 Total variable costs Contribution margin Fixed costs Supervisory salaries Administrative salaries Depreciation - Office equipment Depreciation-- Machinery Sales staff salaries Total fixed costs Income