Phoenix Company reports the following fixed budget. It is based on an expected production and sales volume of 15,000 units.

Sales Costs PHOENIX COMPANY Fixed Budget For Year Ended December 31 Direct materials Direct labor Sales staff commissions Depreciation-Machinery Supervisory salaries Shipping Sales staff salaries (fixed annual amount) Administrative salaries Depreciation Office equipment Income $ 3,000,000 975,000 225,000 60,000 300,000 200,000 225,000 250,000 411,000 195,000 $ 159,000 Phoenix Company reports the following actual results. Actual sales were 18,000 units. Sales (18,000 units) 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 $ 3,648,000 $ 1,185,000 278,000 63,000 300,000 210,000 261,500 268,000 419,000 195,000 $ 468,500 Required: Prepare a flexible budget performance report for the year. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "No variance" and enter "0" for zero variance.) For Year Ended December 31 Sales Variable costs Direct materials Direct labor Sales staff commissions Shipping Depreciation Machinery Total variable costs Contribution margin Fixed costs Answer is not complete. PHOENIX COMPANY Flexible Budget Performance Report Flexible Budget (18,000 units) 0 0 Actual Results (18,000 units) 0 0 Variances Favorable/Unfavorable