Part 1, some of my entries might not be correct I apoligize.

Phoenix Company's 2019 master budget included the following fixed budget report. It is based on an expected production and sales volume of 16,000 units. PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2019 Sales $4,000,000 Cost of goods sold Direct materials $800,000 Direct labor 240,000 Machinery repairs (variable 32,000 cost) Depreciation-Plant equipment 315,000 (straight-line) Utilities ($ 16,000 is 176,000 variable) Plant management salaries 200,000 1,763,000 Gross profit 2,237,000 Selling expenses Packaging 48,000 Shipping 80,000 Sales salary (fixed annual 250,000 378,000 amount) General and administrative expenses Advertising expense 132,000 Salaries 251,000 Entertainment expense 110,000 493,000 Income from operations $1,366,000 Phoenix Company's actual income statement for 2019 follows. PHOENIX COMPANY Statement of Income from Operations For Year Ended December 31, 2019 Sales (19,000 units) $4,798,000 Cost of goods sold Direct materials $966,000 Direct labor 293,000 Machinery repairs (variable 30,000 cost) Depreciation-Plant equipment 315,000 (straight-line) Utilities (fixed cost is 175,500 $157,500) Plant management salaries 210,000 1,989,500 Gross profit 2,808,500 Selling expenses Packaging 54,750 Shipping 87,500 Sales salary (annual) 267,000 409,250 General and administrative expenses Advertising expense 140,000 Salaries 251,000 Entertainment expense 114,000 505,000 Income from operations $1,894,250 Required: 1. Prepare a flexible budget performance report for 2019. (Indicate the effect of each variance by selecting for favorable, unfavorable, and No variance.) PHOENIX COMPANY Flexible Budget Performance Report For Year Ended December 31, 2019 Flexible Actual Variances Budget Results Fav. / Unfav. Sales Variable costs Direct materials Direct labor Machinery repairs Utilities Packaging Shipping | 1,097,000 277,000 46,000 35,250 70,000 | 100,500 0 1,625,750 315,000 Total variable costs Contribution margin Fixed costs DepreciationPlant equipment (straight-line) Utilities Plant management salaries Sales salary Advertising expense Entertainment expense Salaries 147,000 209,000 9,000 150,000 200,000 267,000 134,000 100,000 251,000 141,000 103,500 251,000 3,500 1,417,000 851,500 Total fixed costs Total fixed costs