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$3,000,000 PHOENIX COMPANY Fixed Budget For Year Ended December 31 Sales Costs Direct materials Direct labor Sales staff comissions Depreciation Machinery Supervisory salaries Shipping Sales staff salaries (fixed annual amount) Administrative salaries Depreciation office equipment Income 975,000 225,000 60,000 300,000 200,000 225,000 250,000 411,000 195,000 $ 159,000 Phoenix Company reports the following actud results. Actual sales were 18,000 units. 53,661,000 Sales (10,000 units) 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 $1,105,000 278,000 63.000 300,000 210,000 261,500 260,000 419,000 195.000 $ 468,500 Required information Flexible Budget Performance Report Flexible Budget (18,000 Actual Results units) (18.000 units) For Year Ended December 31 Variances Favorable/Unfavorable Variable costs 0 Fixed costs