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Problem 21-1A Preparing and analyzing a flexible budget LO P1, A1

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[The following information applies to the questions displayed below.] Phoenix Companys 2019 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, 2019 Requlred: 1\&2. Prepare flexible budgets for the company at sales volumes of 14,000 and 16,000 units and classify all items listed in the fixed budget as variable or fixed