Required information Use the following information for the Problems below. (Static) [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 $3,000,000 975,000 225,000 60,000 300,000 200,000 225,000 250,000 411,000 195,000 $ 159,000 Problem 23-1A (Static) 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. Problem 23-1A (Static) 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 Prepare flexible budgets at sales volumes of 14,000 and 16,000 units. PHOENIX COMPANY Flexible Budgets For Year Ended December 31 Variable costs Fixed costs Flexible Budget Variable Amount Total Fixed per Unit Cost Flexible Budget for: Units Sales Unit Sales of of 14,000 16,000 0.00 0 0 $ 0 $ 0 $ 0 Phoenix Company reports the following fixed budget. It is based on an expected production and sales volume of 15,000 units PHOENIX COMPANY Fixed Budget For Year Ended December 31 Sales Costa Direct materials Direct labor Sales staff commissions Supervisory salaries Depreciation-Machinery Shipping Sales staff salaries (fixed annual amount) Administrative salaries Depreciation-office equipment Income $3,000,000 975,000 225,000 60,000 300,000 200,000 225,000 250,000 411,000 195,000 $ 159,000 Problem 23-1A (Static) 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 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 $ < Req 1 and 2 Re