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O Required Information [The following information applies to the questions displayed below) Phoenix Company's 2019 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. PHOENIX COMPANY Fixed Budget Heport for Year Ended December 31, 2019 Sales $3,150,000 Cost of goods sold Direct materials $ 960,000 Direct labor 225.000 Machinery repairs (variable cost) 60,000 Depreciation-Plant equipment (straight line) 330.000 Utilities (530,000 is variable) 195,000 Plant management salaries 200.000 120.000 Gross profit 1,180, Selling expenses Packaging 90,000 Shipping 105. Sales salary (xed annual amount) 430,00 General and administrative expenses Advertising expense 100,000 Salaries 201.000 Entertainment expense Income from operations 5180.00 Required: 18 2. Prepare flexible budgets for the company at sales volumes of 14.000 and 16,000 units and classify all items listed in the fixed budget & variable or fixed PHOENIX COMPANY Required: 182. Prepare flexible budgets for the company at sales volumes of 14,000 and 16,000 units and classify all items listed in the fixed budget as variable or fixed. PHOENIX COMPANY Flexible Budgets For Year Ended December 31, 2019 Flexible Budget Variable Amount Total Fixed Cost Flexible Budget for Units Sales Unit Sales of of 14,000 16,000 per Unit Sales Variable costs Direct materials Direct labor Machinery repairs Utilities Packaging Shipping 0.00 0 Total variable costs Contribution margin Forced costs Depreciation-Plant equipment straight-line Utsties Plant management salaries Sales salary Advertising expense Salaries