Part 1 of 3 Required information [The following information applies to the questions displayed below] 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. 0.6 Doints Skipped eBook Sales Cost of goods sold Direct materials Direct labor PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2019 Machinery repairs (variable cost) Depreciation Plant equipment (straight-line) Utilities ($30,000 is variable) Plant management salaries Ask Gross profit Print ferences Selling expenses Packaging Shipping Sales salary (fixed annual amount) General and administrative expenses Advertising expense Salaries Entertainment expense Income from operations $3,150,000 $ 915,000 225,000 45,000 300,000 195, 000 200,000 1,880, 000 1,270,000 75,000 90,000 235,000 400, 000 150, 000 241,000 75,000 466, 000 $ 404,000 Required: 1&2. Prepare flexible budgets for the company at sales volumes of 14,000 and 16,000 units and classify all items listed in the fixed budget as variable or fixed. PHOENIX COMPANY Flexible Budgets For Year Ended December 31, 2019 Flexible Budget Variable Amount per Unit Total Fixed Cost Flexible Budget for: Units Sales Unit Sales of of 14,000 16.000