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. Sales Costs PHOENIX COMPANY Fixed Budget For Year Ended December 31 Direct materials Direct labor Sales staff commissions Depreciation-Machinery Supervisory salaries Shipping Sales staff salaries (fixed annual amount) Administrative salaries. Depreciation-Office equipment Income $ 3,000,000 960,000 225,000 75,000 305,000 205,000 *210,000 246,000 430,000 194,000 $ 150,000 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 bu income statement if 18,000 units are sold. ces Variable costs Fixed costs PHOENIX COMPANY Flexible Budgets For Year Ended December 31 Flexible Budget Variable Amount Total Fixed per Unit Cost Flexible Budget for: Units Sales of 14,000 Unit Sales of 16,000 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