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 PHOENIX COMPANY Pixed Budget Por Year Unded December 31 Sales $ 3,000,000 costo Direct materials 975,000 Direct labor 225,000 Sales staff commissions 60,000 Depreciation Machinery 300,000 Supervisory nolarien 200,000 Shipping 225,000 Sales staff salaries (fixed annual anount) 250,000 Administrative salaries 411,000 Depreciation office equipment 195.000 Income $ 159.000 Required: 1&2. 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 Required information Flexible Budget Variable Amount Total Fixed per Unit Cost S 200.00 Flexible Budget for: Units Sales Unit Sales of of 14.000 16,000 $2,800,000 $3,200,000 Sales Variable costs 0.00 0 0 Fixed costs $ 0 $ GA 0 Reg 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 if 18,000 units are sold. PHOENIX COMPANY Budgeted Income Statement For Yoar Ended December 31 Sales (in units) 18,000 $ 0