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 15,000 units $ 3,000,000 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 990,000 210,000 60,000 305,000 199,000 240,000 254,000 401,000 191,000 $ 150,000 Required: 182. Prepare flexible budgets at sales volumes of 14,000 and 16,000 units. 3. The company's business conditions are improving. One possible result is a sales volume of 18,000 units. Prepare a simple budgeted income statement if 18,000 units are sold. Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3 Prepare flexible budgets at sales volumes of 14,000 and 16,000 units. PHOENIX COMPANY Flexible Budgets For Year Ended December 31 Flexible Budget Variable Amount Total Fixed Cost $ 200.00 Flexible Budget for Units Sales Unit Sales of of 14,000 16,000 $ 2,986,000 per Unit Sales Variable costs Direct materials Direct labor Sales staff commissions Flexible Budget Variable Amount Total Fixed Cost 200.00 Flexible Budget for: Units Sales Unit Sales of of 14,000 16,000 $ 2,986,000 per Unit Sales Variable costs Direct materials Direct labor Sales staff commissions Shipping 0.00 0 0 Total variable costs Contribution margin Fixed costs Depreciation Machinery Supervisory salaries Sales staff salaries Administrative salaries Depreciation--Office equipment $ 0 $ 0 S Total fixed costs Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3 The company's business conditions are improving. One possible result is a sales volume of 18,000 units. Prepare a simple budgeted income statement of 18,000 units are sold. PHOENIX COMPANY Budgeted Income Statement For Year Ended December 31 Sales (in units) 18,000 S 0