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 15,000 units. PHOENIX COMPANY Fixed Budget For Year Ended December 31 Sales $ 3,000,000 Costs Direct materials 975,000 Direct labor 225,000 Sales staff commissions 60,000 DepreciationMachinery 300,000 Supervisory salaries 200,000 Shipping 225,000 Sales staff salaries (fixed annual amount) 250,000 Administrative salaries 411,000 DepreciationOffice equipment 195,000 Income $ 159,000 Phoenix Company reports the following actual results. Actual sales were 18,000 units. Sales (18,000 units) $ 3,648,000 Costs Direct materials $ 1,185,000 Direct labor 278,000 Sales staff commissions 63,000 DepreciationMachinery 300,000 Supervisory salaries 210,000 Shipping 261,500 Sales staff salaries (fixed annual amount) 268,000 Administrative salaries 419,000 DepreciationOffice equipment 195,000 Income $ 468,500 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.