please Help ASAP GOT 10 min just need help with last two questions

D Required Information Problem 21-1A Preparing and analyzing a flexible budget LO P1, A1 [The following information applies to the questions displayed below) Phoenix Company's 2019 master budget included the following fixed budget report. It is based on an expected prod 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 erials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line) Utilities ($60,000 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 $ 945,000 240, we 60,000 315,000 210,000 200 000 1,970 one 1 180,000 75, eee 90,000 235,000 400,000 150,000 230,000 BO, 000 46e eee 320,000 $ Problem 21-1A Part 1&2 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 fix budget as variable or fixed. Answer is complete and correct. PHOENIX COMPANY Flexible Budgets For Year Ended December 31, 2019 Flexible Budget Variable Total Fixed Amount per Cost Unit Flexible Budget for Units Unit Sales of Sales of 14,000 16,000 ST SA 2,040.000 3,380,000 Sales ls 210.00 o 63.00 16.00 Variable costs Direct materials Direct labor Machinery repairs Utilities Packaging Shipping 4.00 4.00 5.00 8.00 882,000 1,008,000 224.000 258,000 50,000 64.000 58,000 64,000 70,000 80.000 84.000 98.000 oooooo Total variable costs 98 00 112.00 $ 1/372.000 1.588.000 1.568.000 1.792,000 Contribution margin Foced costs Depreciation-Plant equipment (straight-line) Utilities Plant management salaries Sales salary Advertising expense Salaries Entertainment expense OOOOOOO 315.000 150,000 200.000 235,000 150,000 230.000 80.000 315.000 150,000 200,000 235,000 150,000 230.000 80.000 315.000 150,000 200,000 235,000 150.000 230,000 80,000 Total foxed costs S 1.360,000 Income from operations 1.360.000 1.300.000 $ 200,000 $ 432,000 Required Information Problem 21-1A Preparing and analyzing a flexible budget LO P1, A1 [The following information applies to the questions displayed below.) Phoenix Company's 2019 master budget included the following fixed budget report it is based on an expected productie and sales volume of 15.000 units. 53, 152, ees PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2019 Sales Cost of goods sold ect materials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line) utilities (558,898 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, eee 242,88 68, eee 315,000 210,8ee 2ee, see 1,978, Bee 1,188,888 75,eee 9e, see 235, eee 488,888 150,eee 239, eee se, eee 468,800 $ 320,000 Problem 21-1A Part 3 3. The company's business conditions are improving. One possible result is a sales volume of 18,000 units. The company president confident that this volume is within the relevant range of existing capacity. How much would operating income increase over the budgeted amount of $320,000 if this level is reached without increasing capacity? PHOENIX 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 Foced costs Operating income Ek 0 O Required Information Problem 21-1A Preparing and analyzing a flexible budget LO P1, A1 [The following information applies to the questions displayed below) Phoenix Company's 2019 master budget included the following fixed budget report. It is based on an expected p and sales volume of 15,000 units. $3,150, wee 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 ($60,800 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 3945,000 240,00 , 315,900 210,002 288,888 1 970.000 1,189,888 75,990 90.000 235,800 480 Dee 150,000 23e eee 80,000 469,90 320,000 Problem 21-1A Part 4 4. An unfavorable change in business is remotely possible, in this case, production and sales volume for the year could fall units. How much income (or loss) from operations would occur if sales volume falls to this level? (Enter any loss with minus PHOENIX 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 Fored costs Operating income (loss)