YouTube 2 12A Phoenix Company's 2017 master budget Included the following fixed budget report. It is based on an expected production and sales volume of 18,000 units $3,600,000 $ 990,000 270,000 320 115.000 204,000 230,00 PHOENIX COMPANY Faxed budget Report For Year Endud bocember 21, 2017 Sales Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation-plant equipment straight-line) Utilities (554,is variable) Plant management salaries Gross profit Selling expenses Packaging Shipping Sales salary (Fixed annual amount) General and administrative expenses Advertising expense Solaris Entertainment.exente Income from operations 2,081, 1.519.000 90, 126, 260.000 476,000 125.000 1. 110.000 ANS 000 550.000 Phoenix Company's actual income statement for 2017 follows, PHOENIX COMPANY Statet 0 Incontro Operations or Year Ended Dec 2017 $4,200 Problem 212A 1 Income from operations 5354000 Phoenix Company's actual income statement for 2017 follows. 10 points Book Print References PONTX CONDARY Statement of Income Operations Fon Year Ended December 2011 Sales (21,000 units) Cost of goods sold 54,278,000 Direct materials 31,171,00 Direct Labor 322,000 Machinery repairs (variable cost) 76,000 Depreciation-plant equipment straight line) 315,000 Utilities (fixed cost is $1411,000) 210,000 plant management salaries 299.000 23,00 Gross profit 1.945,000 Selling expenses Packaging 102,250 Shipping 14.0 Sales salary (annual) 520,250 General and adninistrative expenses 116.000 Advertising expense 251, Salaries 110,000 501, Entertainment expense $21,750 Thcome from operations Required: 1. Prepare a flexible budget performance report for 2017 PHOENIX COMPANY Flexible Budget Performance Report En 2012 Required: 1. Prepare a flexible budget performance report for 2017 PERA bendera Report Far Year End December 2017 Flexible Buget AclResults Vannes avertin Sales Variable costs Direct materials Direct labor Machinery repairs Utilities Packaging Shipping Food costs Depreciation Plant equipment straight line Plant management salaries Direct labor Machinery repairs Utilities Packaging Shipping Fixed costs Depreciation-Plant equipment (straight-line) Utilities Plant management salaries Sales salary Entertainment expense