The following information apples to the questions displayed below. Phoenlix Company's 2017 master budget included the following flxed budget report. It is based on an expected production and sales volume of 15,000 unilts. PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2017 Part 1 of 3 Sales Cost of goods sold 3,300,000 930,000 Direct materiais Direct labor Machinery repairs (variable cost) Depreciation-plant equipment (straight-line) Utilities ($60,000 is variable) Plant managenent salaries 225,000 60,000 315,000 180,000 200,000 1.910,000 1,390,000 Gross profit Selling expenses Packaging Shipping Sales salary (fixed annual anount) 75,000 90,000 235,000400,000 General and adninistrative expens Advertising expense Salaries Entertainment expense 125,000 230,000 80,000435,000 Incone from operations 555,000 Required 2. Prepare flexible budgets for the company at sales volumes of S4,000 and 16,000 units and classify all items listed in the fixed budget as variable or fixed Flxed Budget Report For Year Ended December 31, 2017 Flexible Budget Flexible Budget for Varlable Total Fixed Sales of of 16.000 Units Amount per Cost