wie UVEM Phoenix Company reports the following fixed budget. It is based on an expected production and sales volume of 15,000 units. 53, 159,000 PHOENIX COMPANY Fixed Budget For 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 1,050,000 240,000 45,000 315,000 230,000 105,000 235,000 241,000 210,000 $ 479,000 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. PHOENIX COMPANY Flexible Budgets For Year Ended December 31 Flexible Budget Variable Amount Total Fixed Cost $ 220.00 Flexible Budget for: Units Sales Unit Sales of of 14,000 16,000 per Unit Sales Variable costs Direct materials Direct labor Sales staff commissions Shipping 70.00 16.00 300 6.00 95.00 125.00 IS Total vanable costs Contribution margin Fixed costs Depreciation--Machinery Supervisory salanes Rey 1111 Next Supervisory salaries Sales staff salaries Administrative salaries Depreciation-Office equipment $ 0 $ 0 $ Total fixed costs income 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. 18,000 PHOENIX COMPANY Budgeted Income Statement For Year Ended December 31 Sales (in units) Sales Less: Variable cost Contribution margin Less Fixed cost Income