! 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 Direct materials Direct labor PHOENIX COMPANY Fixed Budget For Year Ended December 31 $ 3,150,000 990,000 Sales staff commissions Depreciation-Machinery Supervisory salaries Shipping Sales staff salaries (fixed annual amount) Administrative salaries Depreciation-office equipment Income 225,000 75,000 300,000 195,000 240,000 252,000 522,500 193,000 $ 157,500 Check my work Problem 8-1A (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. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3