Seved Phoenix Company's 2019 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2019 Sales $3,300,000 Cost of goods sold: Direct materials $900,000 Direct labor 210,000 Machinery repairs (variable cost) 60,000 Depreciation-Plant equipment (straight-line) 300,000 Utilities (545,000 in variable) 180,000 Plant management salaries 200,000 1,050,000 Gross profit 1,450,000 Selling expenses Packaging 90,000 Shipping 90,000 Sales salary (fixed annual amount) 235,000 415,000 General and administrative expenses Advertising expense 125,000 Salaries 241,000 Entertainment expense 80,000 446,000 Income from operations $589,000 He Required: 1&2. Prepare flexible budgets for the company at sales volumes of 14,000 and 16,000 units and classify all items listed in the fixed budget as variable or fixed. PHOENIX COMPANY 43 # 10 9 tv A MacBook Pro 4 G Search or type URL % 5