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 15,000 units $ 3,300,000 PHOENIX COMPANY Fixed Budget Fon 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 1,050,000 225,000 60,000 315,000 210,000 90,000 235,000 241,000 195,000 $ 679,000 Problem 8-1A (Algol Preparing and analyzing a flexible budoet LO P1 Problem 8-1A (Algo) Preparing and analyzing a flexible budget LO P1 Required: 182. 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 budgeted income statement if 18,000 units are sold. Complete this question by entering your answers in the tabs below. Req 1 and 2 Rega Prepare flexible budgets at sales volumes of 14,000 and 16,000 units. PHOENIX COMPANY Flexible Budgets For Year Ended December 31 Flexible Budget Variable Amount Total Fixed Flexible Budget for Units Sales Unit Sales of PHOENIX COMPANY Flexible Budgets For Year Ended December 31 Flexible Budget Variable Amount Total Fixed per Unit Cost $ 220.00 Flexible Budget for Units Sales Unit Sales of of 14,000 16.000 $.3.080,000 $3,620,000 Sales Variable costs Direct materials 68.00 952,000 CO 1,038,000 68.00 952.000 1,088,000 Fixed costs The company's business conditions are improving. One possible result is a sales volume budgeted income statement if 18,000 units are sold. PHOENIX COMPANY Budgeted Income Statement For Year Ended December 31 Sales (in units) hs 18,000 $ 0