Problem 23-1A Preparation and analysis of a flexible budget LO P1 The following information applies to the questions displayed below. Phoenix Company's 2015 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2015 3,000,000 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 $975,000 225,000 60,000 300,000 195,000 200,000 1,955,000 Gross proft 1,045,000