Phoenix Company reports the following fixed budget. It is based on an expected production and sales volume of 15,400 units. Sales PHOENIX COMPANY Fixed Budget For Year Ended December 311 Costs Direct materials Direct labor Sales staff commissions Depreciation-Machinery Supervisory salaries): Shipping Sales staff salaries (fixed annual amount) Administrative salaries Depreciation-office equipment Income $ 3,080,000 1,001,000 231,000 61,600 300,000 203,000 231,000 249,000 454,400 195,000 $ 154,000 Problem 23-2A (Algo) Preparing a flexible budget performance report LO P1 Phoenix Company reports the following actual results. Actual sales were 18,400 units. Sales (18,400 units) Costs Direct materials. Direct labor Sales staff commissions $ 3,726,000 $ 1,210,720 283,360 64,400 Depreciation-Machinery Supervisory salaries Shipping Sales staff salaries (fixed annual amount) Administrative salaries. Depreciation-Office equipment Income 300,000 217,000 267,720 268,000 462,400 195,000 457,400 Required: Prepare a flexible budget performance report for the year. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "No varlance" and enter "0" for zero variance.) For Year Ended December 31 PHOENIX COMPANY Flexible Budget Performance Report Flexible Budget (18,400 units) Actual Results Variances Favorable/Unfavorable (18,400 units) Variable costs Fixed costs