Exam 3 (Chapter 22 & 23) 12 Part 2 of 2 eBook Required information The following information applies to the questions displayed below. Phoenix Company reports the following fixed budget is based on an expected production and sales volume of 15,100 units PHOENIX COMPANY Fixed Budget For Year Ended December 31 Sales 3,171,00 Costs Direct materials 996,620 Direct labor 226,500 Sales staff commissions 75,500 Depreciation-Machinery 305,000 Supervisory salaries 199,000 Shipping 241,600 Sales staff salaries (fixed annual 247,00 amount) Administrative salaries 521,258 Depreciation Office equipment 200,000 Income $ 158,550 Phoenix Company reports the following actual results. Actual sales were 18,100 units, Sales (18,168 units) 3,846,250 Costs $ Direct materials 1,209,280 Direct labor 278,740 Sales staff commissions 81,450 Depreciation Machinery 385,000 Supervisory salaries 212,000 Shipping 281,455 Sales staff salaries (fixed annual amount) 266, eee Administrative salaries 529,250 Depreciation office equipment 200,000 Income 483,275 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 for pero variance.) PHOENIX COMPANY Flexible Budget Performance Report Flexible Actual For Year Ended December 31 Budget Results (18,100 (18,100 Variances FavorableUntavorable units) units) Variable costs Fixed costs