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 15,300 units. Sales Costa PHOENIX COMPANY Fixed Budget For Year Ended December 31 Direct materials Direct labor Sales staff commissions Depreciation-Machinery Supervisory salaries Shipping Sales staff salaries (fixed annual amount) Administrative salaries Depreciation-office equipment Income $ 3,213,000 994,500 244,800 76,500 305,000 204,000 214,200 249,000 571,350 193,000 $ 160,650 Required: 1&2. Prepare flexible budgets at sales volumes of 14,300 and 16,300 units. 3. The company's business conditions are improving. One possible result is a sales volume of 18,300 units. Prepare a simple budgeted income statement if 18,300 units are sold. Sales Variable costs Direct materials Direct labor Sales staff commissions Shipping Contribution margin Fixed costs Depreciation-Office equipment Supervisory salaries Sales staff commissions Administrative salaries Depreciation-Office equipment PHOENIX COMPANY Flexible Budgets For Year Ended December 31 Flexible Budget Variable Amount per Unit Total Fixed Cost Flexible Budget for: Units Sales Unit Sales of of 14,300 16,300 0.00 0 0 $ 0 $ 0 $ 0 Req 1 and 2 Req 3 The company's business conditions are improving. One possible result is a sales volume of 18,300 units. Prepare a simple budgeted income statement if 18,300 units are sold. PHOENIX COMPANY Budgeted Income Statement For Year Ended December 31 Sales (in units) 18,300 $ 0