! Required information Use the following information for the Problems below. (Algo) [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. Sales Costs 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 $ 3,000,000 990,000 225,000 60,000 300,000 198,000 225,000 246,000 410,000 196,000 $ 150,000 Problem 23-1A (Algo) Preparing and analyzing a flexible budget LO P1 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. Sales Variable costs Direct materials Direct labor Sales staff commissions Shipping Fixed costs Depreciation-Machinery Supervisory salaries Sales staff salaries Administrative salaries Depreciation Office equipment Total fixed costs Income PHOENIX COMPANY Flexible Budgets For Year Ended December 31 Flexible Budget Flexible Budget for: Variable Total Fixed Amount per Units Sales of Unit Sales of Cost Unit 14,000 16,000 $ $ $ 200.00 2,800,000 3,200,000 64.00 896,000 1,024,000 16.00 X 224,000 256,000 4.00 56,000 64,000 15.00 210,000 240,000 99.00 $ 101.00 1,386,000 1,584,000 1,414,000 1,616,000 305,000 305,000 305,000 204,000 204,000 204,000 248,000 248,000 248,000 415,000 415,000 415,000 193,000 193,000 193,000 $ $ 1,365,000 1,365,000 $ 1,365,000 $ 49,000 $ 251,000 Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 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 Year Ended December 31 Sales (in units) 18,000 $ 0 Req 1 and 2 Req 3