Chap 21 Homework Required information The following information applies to the questions displayed below] Part 1 of 3 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 points $3,300,000 Skipped $ 930,000 225,000 60.000 330,000 180,000 210.000 Book PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2019 Sales Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation Plant equipment straight-line) Utilities ($30,000 is variable) Plant management salaries Gross profit Selling expenses Packaging Shipping Sales salary (fixed annual amount) General and administrative expenses Advertising expense Salaries Entertainment expense Income from operations Part 1.035,000 1,365,000 References 75,000 105,000 235,000 415,000 150,000 241,000 85,000 476,000 474,000 $ An unfavorable change in business is remotely possible in this case, production and sales volume for the year could fall to 12,000 Chap 21 Homework 100, 210,000 1,935,000 1,365,000 Required information Utilities (>0, 15 variable) Plant management salaries Gross profit Selling expenses Packaging Shipping Sales salary (fixed annual amount) General and administrative expenses Advertising expense Salaries Entertainment expense Income from operations 75,000 105,000 235,000 Part of 3 415,000 20 150,000 241,000 85,000 points 476.000 $ 474,000 Skipped Book 4. An unfavorable change in business is remotely possible in this case, production and sales volume for the year could fall to 12.000 units. How much income for loss) from operations would occur if sales volume falls to this level? (Enter any loss with minus sign.) Pent References PHOENIX COMPANY Forecasted Contribution Margin Income Statement For Year Ended December 31, 2019 Sales (in units) 15,000 12.000 Contribution margin (per unit) Contribution margin Fixed costs Operating income loss)