i am in the middle of a test. i need answer in less than 1hr.

Phoenix Company's 2017 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. $3,750,000 01:55:52) PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2017 Sales Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line) Utilities ($30,000 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 $ 900,000 300,000 45,000 330,000 190,000 215.000 1.900.000 1,770,000 60,000 90,000 270.000 420,000 130,000 261,000 100,000 491,000 359,000 $ Phoenix Company's actual income statement for 2017 follows. $4,563,000 1:55:29 PHOENIX COMPANY Statement of Income from Operations For Year Ended December 31, 2017 Sales (18,000 units) Cost of goods sold Direct materials $1,096,000 Direct labor 368,000 Machinery repairs (variable cost) 45,000 Depreciation-Plant equipment (straight-line) 330,000 Utilities (fixed cost is $157,500) 192,750 Plant management salaries 224,000 Gross profit Selling expenses Packaging 69,750 Shipping 100,000 Sales salary (annual) 288,000 General and administrative expenses Advertising expense 139,000 Salaries 261,000 Entertainment expense 103,000 Income from operations 2,255,750 2,307, 250 457,750 503,000 $1,346,500 Required: 1. Prepare a flexible budget performance report for 2017. PHOENIX COMPANY Required: 1. Prepare a flexible budget performance report for 2017 PHOENIX COMPANY Flexible Budget Performance Report For Year Ended December 31, 2017 Flexible Budget Actual Results Variances Fav. 7 Unfav. Variable costs Fixed costs 23 AND CH 25 0 Served