Phoenix Company's 2017 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. $3,000,000 PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2017 Sales Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line) Utilities ($30,880 is variable) Plant management salaries Gross profit Selling expenses Packaging Shipping Sales salary (fixed annual amount) General and administrative expenses Advertising expense Salaries Entertainment expense Income from operations $ 930,000 240,000 45,000 33e, eee 210,080 180,000 1.935,000 1,865,000 75,000 90,000 235,000 400,000 125,000 241,000 80,000 446,000 S. 219,900 Required: 182. Prepare flexible budgets for the company at sales volumes of 14.000 and 16.000 units and classify all items listed in the fixed budget as variable or fixed. PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2017 Flexible Budget Variable Amount Total Fixed per Unit Cost Flexible Budget for Units Sales Unit Sales of of 14,000 16.000 Variable costs Fixed costs