HW 1 Problem 21-3A Preparation and analysis of a flexible budget LO P1 IThe following information applies to the questions displayed belowl Phoenix Company's 2013 master budget included the following fixed budget report It is based on an expected production and sales volume of 15.000 units. PHOENIXCOMPANY Fixed Budget Report For Year Ended December 31, 2013 $3,000,000 Cost of goods sold Direct materals 975,000 Direct labor 225,000 Machinery repairs Marlable costy. 60,000 ant equipment 300,000 Utilities ($45,000 ls vanable) 195.000 Plant management salanes 200,000 1.955.000 Gross profit 1,045,000 Selling expenses Packaging 75.000 Shipping 105.000 Sales salary (fixed annual amount) 250.000 430,000 General and administrative expenses Advertising expense 125.000 241.000 Entertainment expense 456,000 Income from operations 159000 References Section Break Problem 21-3A Preparation and analysis of a f O Ask me anything