Required information [The following information applies to the questions displayed below.] Phoenix Company's 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 Sales Cost of goods sold Direct materials Direct labor $3,000,000 $945,000 225,000 Machinery repairs (variable cost) 60,000 Depreciation-Plant equipment (straight-line) 330,000 Utilities ($30,000 is variable) 195,000 Plant management salaries 180,000 1,935,000 Gross profit 1,065,000 Selling expenses Packaging 75,000 Shipping 90,000 Sales salary (fixed annual amount) 235,000 400,000 General and administrative expenses Advertising expense 100,000 Salaries 241,000 Entertainment expense Income from operations 75,000 416,000 $ 249,000 Required: 182. 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. Variable costs (Cnd rele PHOENIX COMPANY Flexible Budgets For Year Ended December 31, 2019 Variable Amount Flexible Budget Flexible Budget for: per Unit Total Fixed Cost Units Sales Unit Sales of of 14,000 16,000 0.00 0 0