Required information [The following information applies to the questions displayed below.] Phoenix Company's 2017 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. $ 3,000,000 PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2017 Sales Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line) Utilities ($45,000 is variable) Plant management salaries Gross profit Selling expenses Packaging Shipping Sales salary (fixed annual amount) General and administrative expenses Advertising expense Salaries Entertainment expense Income from operations $ 975,000 225,000 60,000 300,000 195,000 200,000 1,955,000 1,045,000 75,000 105,000 250,000 430,000 125,000 241,000 90,000 456,000 159,000 $ Required: 1& 2. Prepare flexible budgets for the company at sales volumes of 14.000 and 16,000 units and classify all items listed in the fixed budget as variable or fixed. rt 1 of 3 31.5 nts awarded Required: 1& 2. Prepare flexible budgets for the company at sales volumes of 14,000 and 16,000 units and classify all items listed in the fixed budget as variable or fixed. Scored eBook PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2017 Flexible Budget Variable Total Fixed Amount per Cost Unit S 200.00 Flexible Budget for: Units Unit Sales Sales of 14.000 of 16,000 S $ 3,200,000 2,800,000 Print Sales References 61.00 X 14.00 % Variable costs Direct materials Direct labor Machinery repairs Utilities Packaging Shipping X 3.00 854,000 X 196,000 42,000 56,000 84,000 98,000 976,000 X 224,000 48,000 64,000 96,000 112,000 x 4.00 6.00 $ 7.00 95.00 1,330.000 1.470,000 X 1,520,000 1,680,000 $ x 105.00 330.000 Total variable costs Contribution margin Fixed costs Depreciation-Plant equipment (straight- line) Utilities Plant management salaries Sales salary Advertising expense Salaries Entertainment expense 330,000 330.000 150,000 150.000 210,000 $ 210,000 $ 235,000 235,000 100,000 $ 100,000 X 230,000 $ 230,000 90.000 90.000 150.000 210,000 235.000 100.000 230.000 90.000 Total fixed costs S $ 1,345.000 1,345 000 $ 1.345.000 Income from operations $ 125.000 $ 335,000 Red text indicates are was expected null or alors calculation is nooit aucu