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.

Required information (The following information applies to the questions displayed below) Phoenix Company's 2017 master budget included the following fixed budget report. It is based on an expected product 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 ($45,000 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 $ 975,000 225,000 60,000 300,000 195,000 200,000 1,955,000 1,045,000 75,000 105,000 250,000 430,000 125,000 241,000 90,000 1.456,000 159,000 Required: 1&2. Prepare flexible budgets for the company at sales volumes of 14,000 and 16.000 units and classify all items listed in the budget as variable or fixed. Required information Budget Report For Year Ended December 31, 2017 Flexible Budget Variable Amount Total Fixed per Unit Cost Flexible Budget for Units Sales Unt Sales of of 14.000 15.000 Sales Variable costs Direct materials Direct labor Machinery repairs Utilities Packaging Shipping 0.00 Total variable costs Contribution margin Fixed costs Depreciation-Plant equipment straight-line) Utilities Plant management salanes Sales salary Advertising expense Salaries Entertainment expense TIL LUNUN TULUI TITULUI NINA - US 0S 0S Total fored costs Income from operations