Phoenix Company reports the following fixed budget. It is based on an expected production and sales volume of (expression error) units. PHOENIX COMPANY Fixed Budget For Year Ended December 31 Sales $ 3,000,000 Costs Direct materials 960,000 Direct labor 225,000 Sales staff commissions 75,000 Depreciation-Machinery 305,000 Supervisory salaries 205,000 Shipping 210,000 Sales staff salaries (fixed annual amount) 246,000 Administrative salaries 430,000 Depreciation-office equipment 194,000 Income $ 150,000 PHOENIX COMPANY Flexible Budgets For Year Ended December 31 Flexible Budget Variable Amount Total Fixed Cost Flexible Budget for: Units Sales Unit Sales of of 14,000 16,000 per Unit Variable costs + Fixed costs Req 1 and 2 Reg 3 The company's business conditions are improving. One possible result is a sales volume of 18,000 units. Prepare a simple budgeted income statement If 18,000 units are sold. PHOENIX COMPANY Budgeted Income Statement For Year Ended December 31 Sales (in units) 18,000