Phoenix Companys 2015 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units.

Problem 21-1A Preparation and analysis of a flexible budget LO P1 IThe following information applies to the questions displayed belowj Phoenix Company's 2015 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2015 3150,000 Sales Cost of goods sold Direct materials 915,000 Direct labor 240,000 60,000 Machinery repairs Variable cost) Depreciation-plant equipment (straight line) 315,000 Utilities ($30,000 is variable) 210,000 200,000 1.940,000 Plant management salaries Gross profit 1,210,000 Selling expenses 90,000 Packaging 90,000 Shipping 235,000 Sales salary (fixed annual amount) 415,000 General and administrative expenses Advertising expense 125,000 230,000 Salaries 90,000 445,000 Entertainment expense 350,000 Income from operations