Problem 21-1A Preparing and analyzing a flexible budget LO P1, A1 [The following information applies to the questions displayed below.j Phoenix Company's 2019 mester budget included the following fixed budget report. It is based on an expected pro and sales volume of 15,000 units. $3,300,000 PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2019 Sales Cost of goods sold Direct naterials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line) Utilities (545,800 is variable) Plant management salaries Gross profit Selling expenses Packaging Shipping Sales salary (fixed annual arount) General and administrative expenses Advertising expense Salaries Entertainment expense Income from operations $ 960,00 225,000 , 315, ege 180,000 210.000 1,950,000 1,358,28 488,888 75. eee se, ese 235, eee 125, ee 241,00 75, ese 441.000 $ 589, ese Problem 21-1A Part 1&2 Required: 1&2. Prepare flexible budgets for the company at sales volumes of 14.000 and 16,000 units and classify all items listed in t budget as variable or fixed. PHOENIX COMPANY Flexible Budget For Year Ended December 31, 2019 Flexible Budget Variable Amount Total Fixed per Unit coet Flexible Budget for: Unita Sales Unit Sales of of 14,000 16,000 Variable costs Fixed costs