Phoenix Company reports the following fixed budget. It is based on an expected production and sales volume of $15,500$ units.

PHOENIX COMPANY

Fixed Budget

For Year Ended December $31$

Sales $ $3,100,000$

Costs

Direct materials $1,007,500$

Direct labor $248,000$

Sales staff commissions $77,500$

Depreciation$$Machinery $300,000$

Supervisory salaries $202,000$

Shipping $232,500$

Sales staff salaries $($fixed annual amount$)249,000$

Administrative salaries $434,500$

Depreciation$$Office equipment $194,000$

Income $ $155,000$

Problem $21-2$A $($Algo$)$ Preparing a flexible budget performance report LO P$1$

Phoenix Company reports the following actual results. Actual sales were $18,500$ units.

Sales $(18,500$ units$)$ $ $3,746,250$

Costs

Direct materials $ $1,217,300$

Direct labor $303,400$

Sales staff commissions $83,250$

Depreciation$$Machinery $300,000$

Supervisory salaries $216,000$

Shipping $269,175$

Sales staff salaries $($fixed annual amount$)270,000$

Administrative salaries $440,500$

Depreciation$$Office equipment $194,000$

Income $452,625$

Required:

Prepare a flexible budget performance report for the year.

Note: Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select $"$No variance" and enter $"0"$ for zero variance.Phoenix Company reports the following fixed budget. It is based on an expected production and sales volume of $15,500$

units.

Problem $21-2$A $($Algo$)$ Preparing a flexible budget performance report LO P$1$

hoenix Company reports the following actual results. Actual sales were $18,500$ units.

equired:

repare a flexible budget performance report for the year.

lote: Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select $"$No variance" and enter $"0"$ for zero

ariance.