Phoenix Company's 2019 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, 2019 Sales $3, 300, 900 Cost of goods sold Direct materials $ 960, 000 Direct labor 240, 090 Machinery repairs (variable cost) 60, 000 Depreciation-Plant equipment (straight- line) 330, 000 Utilities ($60,000 is variable) 180, 000 Plant management salaries 210, 000 1, 980, 900 Gross profit 1, 320, 900 Selling expenses Packaging 75, 000 Shipping 105, 090 Sales salary (fixed annual amount) 235, 000 415, 900 General and administrative expenses Advertising expense 125, 000 Salaries 241, 000 Entertainment expense 80, 000 446,900 Income from operations 459, 900PHOENIX COMPANY Flexible Budgets For Year Ended December 31, 2019 Flexible Budget Flexible Budget for: Variable Amount Total Fixed Units Sales Unit Sales of per Unit Cost of 14,000 16,000 Variable costs 0.00 0 Fixed costs 0 5 0 5 0PHOENIX COMPANY Forecasted Contribution Margin Income Statement For Year Ended December 31, 2019 Sales (in units) 15,000 18,000 Contribution margin (per unit) Contribution margin Fixed costs Operating incomePHOENIX COMPANY Forecasted Contribution Margin Income Statement For Year Ended December 31, 2019 Sales (in units) 15,000 12,000 Contribution margin (per unit) Contribution margin Fixed costs Operating income (loss)