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 (expression error) units. $ 3,255,000 1,007,500 248,000 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 62,000 300,000 202,000 248,000 251,000 576,750 197,000 $ 162,750 Problem 8-1A (Algo) Preparing and analyzing a flexible budget LO P1 Required: 1&2. Prepare flexible budgets at sales volumes of 14,500 and 16,500 units. 3. The company's business conditions are improving. One possible result is a sales volume of 18,500 units. Prepare a simple budgeted income statement if 18,500 units are sold. Complete this question by entering your answers in the tabs below. Reg 1 and 2 Reg 3 Prepare flexible budgets at sales volumes of 14,500 and 16,500 units. PHOENIX COMPANY Flexible Budgets For Year Ended December 31 Flexible Budget Variable Amount Total Fixed per Unit Cost Flexible Budget for: Units Sales Unit Sales of of 14,500 16,500 Sales Variable costs Direct materials Direct labor Sales staff commissions Shipping 0.00 0 0 Total variable costs Contribution margin Fixed costs DepreciationMachinery DepreciationOffice equipment Supervisory salaries Sales staff salaries Administrative salaries Total fixed costs $ 0 $ 0 $ 0 Income Problem 8-1A (Algo) Preparing and analyzing a flexible budget LO P1 Required: 1&2. Prepare flexible budgets at sales volumes of 14,500 and 16,500 units. 3. The company's business conditions are improving. One possible result is a sales volume of 18,500 units. Prepare a simple budgeted income statement if 18,500 units are sold. Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3 The company's business conditions are improving. One possible result is a sales volume of 18,500 units. Prepare a simple budgeted income statement if 18,500 units are sold. PHOENIX COMPANY Budgeted Income Statement For Year Ended December 31 Sales (in units) 18,500 $ 0