ces 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 15,200 units. PHOENIX COMPANY Fixed Budget For Year Ended December 31 Sales Costs Direct materials Direct labor Sales staff commissions Supervisory salaries Depreciation-Machinery Shipping Sales staff salaries (fixed annual amount) Administrative salaries Depreciation-office equipment Income $ 3,040,000 988,000 243,200 60,800 305,000 198,000 228,000 252,000 414,000 199,000 $ 152,000 Phoenix Company reports the following actual results. Actual sales were 18,200 units. Sales (18,200 units) Costs Direct materials Direct labor $ 3,685,500 $1,197,560 298,480 Sales staff commissions 63,700 Depreciation-Machinery 305,000 Supervisory salaries 209,000 Shipping 264,810 Sales staff salaries (fixed annual amount) Administrative salaries 268,000 421,000 Depreciation-office equipment 199,000 Income 458,950 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.) ces 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 15,200 units. PHOENIX COMPANY Fixed Budget For Year Ended December 31 Sales Costs Direct materials Direct labor Sales staff commissions Supervisory salaries Depreciation-Machinery Shipping Sales staff salaries (fixed annual amount) Administrative salaries Depreciation-office equipment Income $ 3,040,000 988,000 243,200 60,800 305,000 198,000 228,000 252,000 414,000 199,000 $ 152,000 Phoenix Company reports the following actual results. Actual sales were 18,200 units. Sales (18,200 units) Costs Direct materials Direct labor $ 3,685,500 $1,197,560 298,480 Sales staff commissions 63,700 Depreciation-Machinery 305,000 Supervisory salaries 209,000 Shipping 264,810 Sales staff salaries (fixed annual amount) Administrative salaries 268,000 421,000 Depreciation-office equipment 199,000 Income 458,950 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.) 471 4 Required information 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 For Year Ended December 31 Sales Variable costs Direct materials Direct labor Sales staff commissions Shipping Total variable costs Contribution margin Fixed costs Depreciation-Machinery Supervisory salaries Sales staff salaries Administrative salaries Depreciation-Office equipment Total fixed costs Income Flexible Budget (18,200 units) Actual Results (18,200 units) Variances 0 Favorable/Unfavorable Favorable Unfavorable Unfavorable Favorable Favorable Unfavorable Favorable No variance Unfavorable Unfavorable Unfavorable No variance Unfavorable Favorable