Required information Skip to question [The following information applies to the questions displayed below.] Phoenix Company reports the following fixed budget. It is based on an expected production and sales volume of 15,300 units. PHOENIX COMPANY Fixed Budget For Year Ended December 31 Sales $ 3,060,000 Costs Direct materials 994,500 Direct labor 214,200 Sales staff commissions 45,900 DepreciationMachinery 305,000 Supervisory salaries 204,000 Shipping 244,800 Sales staff salaries (fixed annual amount) 249,000 Administrative salaries 456,600 DepreciationOffice equipment 193,000 Income $ 153,000 Phoenix Company reports the following actual results. Actual sales were 18,300 units. Sales (18,300 units) $ 3,705,750 Costs Direct materials $ 1,204,140 Direct labor 263,520 Sales staff commissions 45,750 DepreciationMachinery 305,000 Supervisory salaries 219,000 Shipping 284,565 Sales staff salaries (fixed annual amount) 271,000 Administrative salaries 463,600 DepreciationOffice equipment 193,000 Income 456,175 Required: Prepare a flexible budget performance report for the year. Note: Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "No variance" and enter "0" for zero variance