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. $3,150,000 PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2019 Sales Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line) Utilities ($30, eee 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 $ 945,000 225,000 60,000 315,000 180,000 210,000 1,935,000 1,215,000 75,000 105,000 235,000 415,000 125,000 241,000 85,000 451, 000 $ 349,000 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 fixed budget as variable or fixed. x Answer is not complete. PHOENIX COMPANY Flexible Budgets For Year Ended December 31, 2019 Flexible Budget Variable Total Fixed Amount per Cost Unit $ 210.00 Unit Flexible Budget for: Units Sales of Sales of 14.000 16,000 $ $ 2.940.000 3,360,000 Sales 63.00 Variable costs Direct materials Direct labor Machinery repairs Utilities 15.00 4.00 4.00 CAN n.1. Required information viau r -.UU Utilities 4.00 X Packaging Shipping 5.00 7.00 101.00 X 199.00 0 x Total variable costs Fixed costs Depreciation Plant equipment (straight- line) Utilities Plant management salaries Sales salary Entertainment expense Salaries Advertising expense Total fixed costs $ 0 $ 0 $ 0