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 15,400 units. Sales Costs Direct materials Direct labor PHOENIX COMPANY Fixed Budget For Year Ended December 31 Sales staff commissions Depreciation-Machinery Supervisory salaries Shipping Sales staff salaries (fixed annual amount) Administrative salaries Depreciation-office equipment Income $ 3,234,000 1,016,400 231,000 77,000 300,000 196,000 215,600 252,000 560,960 191,000 $ 194,040 Required: 1&2 Prepare flexible budgets at sales volumes of 14,400 and 16,400 units. 3. The company's business conditions are improving. One possible result is a sales volume of 18,400 units. Prepare a simple budgeted income statement if 18,400 units are sold. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Prepare flexible budgets at sales volumes of 14,400 and 16,400 units PHOENIX COMPANY Flexible Budgets For Year Ended December 31 Flexible Budget Flexible Budget for: Variable Amount Total Fixed per Unit Cost Units Sales Unit Sales of of 14,400 16,400 Variable costs Fixed costs per Unit Cost of 14,400 16,400 0.00 0 $ 0 $ $ Req 1 and 2 Req 3 The company's business conditions are improving. One possible result is a sales volume of 18,400 units. Prepare a simple budgeted income statement if 18,400 units are sold. PHOENIX COMPANY Budgeted Income Statement For Year Ended December 31 Sales (in units) 18,400 $ 0