Required information [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 15,100 units. PHOENIX COMPANY Fixed Budget For Year Ended December 31 Sales Costs Direct materials Direct labor Sales staff commissions Depreciation-Machinery Supervisory salaries Shipping Sales staff salaries (fixed annual amount) Administrative salaries Depreciation-Office equipment Income $ 3,020,000 966,400 241,600 45,300 305,000 196,000 226,500 249,000 449,200 190,000 $ 151,000 Phoenix Company reports the following actual results. Actual sales were 18,100 units. Sales (18,100 units) Costs Direct materials Direct labor $ 3,665,250 $ 1,172,880 296,840 Sales staff commissions 45,250 Depreciation-Machinery 305,000 Supervisory salaries 208,000 Shipping 263,355 Sales staff salaries (fixed annual amount) Administrative salaries 270,000 458,200 Depreciation-office equipment 190,000 Income 455,725 Required: Prepare a flexible budget performance report for the year. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "No variance" and enter "O" for zero variance.) For Year Ended December 31 Variable costs Fixed costs PHOENIX COMPANY Flexible Budget Performance Report Flexible Budget (18,100 units) Actual Results Variances Favorable/Unfavorable (18,100 units)