Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

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 15,200 units. PHOENIX COMPANY Fixed Budget For Year Ended December 31 Sales $ 3,040,000 Costs Direct materials 972,800 Direct labor 243,200 Sales staff commissions 76,000 DepreciationMachinery 300,000 Supervisory salaries 201,000 Shipping 243,200 Sales staff salaries (fixed annual amount) 252,000 Administrative salaries 404,800 DepreciationOffice equipment 195,000 Income $ 152,000 rev: 10_23_2021_QC_CS-283191 Phoenix Company reports the following actual results. Actual sales were 18,200 units. Sales (18,200 units) $ 3,685,500 Costs Direct materials $ 1,179,360 Direct labor 298,480 Sales staff commissions 81,900 DepreciationMachinery 300,000 Supervisory salaries 212,000 Shipping 283,010 Sales staff salaries (fixed annual amount) 269,000 Administrative salaries 413,800 DepreciationOffice equipment 195,000 Income 452,950

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Sarbanes Oxley And The New Internal Auditing Rules

Authors: Robert R. Moeller

1st Edition

0471483060, 978-0471483069

More Books

Students also viewed these Accounting questions

Question

4. Explain the strengths and weaknesses of each approach.

Answered: 1 week ago