Problem 08-1A Preparing and analyzing a flexible budget LO P1. A1 [The following information applies to the questions displayed below Phoenix Company: 2019 master budget Included the following fixed budget report it is based on an expected production and sales volume of 15,000 units. PHOENIX CONNY Fixed Budget Report For Year Ended December 31, 2019 Sales $3,158,00 Cost of goods sold Direct materials 5945,000 Direct labor 225.00 Machinery pairs (variable cost) be, Depreciation Plant equipment (straight line) 330,00 Utilities ($68,020 is variable) 210.000 Mantanagement salaries 218,60 1,980, Gross profit Selling expenses Packaging Shipping 90.00 Sales salary (fixed an out) 235,800 415,00 General and adulnistrative expenses Advertising expense 125.00 Salaries Entertainment expense 456.00 Income from operations Problem 08-1A Part 1&2 Required: 182. Prepare flexible budgets for the company at sales volumes of 14,000 and 16,000 units and classify all tems listed in the fixed budget es variable or fixed PHOENIX COMPANY Flexible Budgets For Year Ended December 31, 2018 Flexible Budget Variable Amount Total Fixed Cost Flexible Budget for: Units Sales Unit Balec of 14,000 of 10,000 Der Unit Variable costs Foods