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. $ 3,300,eee 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 1,635,280 248, eee 68,888 330, eee 218,eee 185, eee 235,80 239, eee 195, eee $ 660, eee 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 of 18,000 units are sold. Prepare flexible budgets at sales volumes of 14,000 and 15,000 units. PHOENIX COMPANY Flexible Budgets For Year Ended December 31 Flexible Budget Variable Amount Total Fixed Cost Flexible Budget for: Units Sales Unit Sales of of 14,000 16,000 per Unit Variable costs Direct materials Direct labor Sales staff commissions Shipping 0.00 0 Total variable costs Contribution margin Fixed costs Depreciation-Machinery Depreciation-Office equipment Supervisory salaries Sales staff salaries Administrative salaries $ $ 0 s 0 Income Reg 1 and 2 Reg 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 $