Phoenix Company: 2019 master budget Includes the following fixed budget report it is based on an expected product on and sales volume of 17.000 units PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2010 Sales $3,25,20 Cost of goods sold Direct materials $1,105,ace Direct labor 178,00 Machinery repairs (variable cost) bl.ae Depreciation Plant equipment (straight line) 300.00 Utilities ($51,000 is variable) 211.68 Plant wat salaries 230,00 2,684,80 Gross profit Selling expenses 85,800 119,800 Sales salary (fixed al amount) 258,869 454,200 General and administrative expenses Advertising expense 127.00 Salaries 241. Entertainment expense 10. 468, Income from operations $19,800 Pering Shipping Phoenix Company's sctual Income statement for 2019 follows. PHOENIX COMPANY Statement of Income from Operations For Year Ended December 31, 2019 Sales (28,ese units) Cost of goods sold Direct materials $1,315,000 Direct labor Poachinery repairs (variable cost) 71.00 Depreciation Plant equipment (straight-line) 300.000 Utilities (Fixed cost is $157,50) 215,250 Plant Management salaries 229,800 2,34), Gross profit Selling expenses 97.00 132.00 Sales salary annual) , 100 495,80 General and adinistrative expenses Advertising expense 134. Salaries Entertainment expense 103, 478,82 Income from operations $1,255,250 Packaging Shipping Required: 1. Prepares 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, 2018 Flexible Budget Actual Racuit Variances Fav./Unfav. Variable costs Fonds 0