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 $ 915,000 240,000 60,000 330,000 195,000 180,000 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 ($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 1,920,000 1,230,000 75,000 105,000 235,000 415,000 100,000 230,000 75,000 405,000 $ 410,000 flexible Budgets For Year Ended December 2019 Flexible Budget Vanable Total Fed Amount per COSU Flexible Budget for Units Sales of Sales of 14 000 16.000 $ 2.940.000 9.360,000 Unit a Sales $ 210.00 Variable costs Direg materials Direct labor Machinery repairs Utilities Packaging Shipping 65.00 15.00 % 3.00 X 3.00 6.00 X 6.00 888,000 210.000 3 42.000 ) 42.000 84.000 6 34.000 992.000 3 240.000 23 48.000 48.000 98.000 90.000 1.330.000 1,520.000 1,810.000 1.840.000 6 S 115.00 vanable costs Contribution margin Fixed costs Depreciation Plant equipment (straight- 315 000 315.000 315.000 Plant management salaries Sales salary Advertising expense 150 000 180.000 286 000 a 150 000 6 230 000 30 000 000 150 000 180 000 235.000 150 000 230 000 30 000 160.000 180.000 235.000 150.000 230.000 80.000 Entertainment expense Totalfixed costs $ 1.840 000 1,340.000 1 1.340 000 Income from operations