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 vo (expression error) units. PHOENIX COMPANY Fixed Budget For Year Ended December 31 Sales Costs Direct materials Direct labor Sales staff commissions Depreciation-Machinery Supervisory salaries Shipping Sales staff salaries (fixed annual amount) Administrative salaries Depreciation-Office equipment Income $ 3,080,000 1,016,400 246,400 61,600 300,000 196,000 215,600 253,000 441,000 196,000 $ 154,000 Problem 8-1A (Algo) Preparing and analyzing a flexible budget LO P1 Required: 1&2. Prepare flexible buts at sales volumes of 14,400 and 16,400 units. 3. The company's busin conditions are improving. One possible result is a sales volume of 18,400 units. Prepar income statement if 18,400 units are sold.