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! Required Information 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 $ 3,150,eee 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 anount) Administrative salaries Depreciation Office equipment Income 1,035,eee 255,eee 45,eee 330, 220, eee 185, eee 235, eee 230,eee 210, eee $ 485,eee 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 budgeted Income statement of 18.000 units are sold. Required information Flexible Budgets For Year Ended December 31 Flexible Budget Variable Total Fixed Amount per Cost Unit Flexible Budget for: Units Unit Sales of Sales of 14,000 16,000 Sales Variable costs Direct materials Direct labor Oo OOOO 0.00 0 0 Sales staff commissions Shipping Total variable costs Contribution margin Fixed costs Depreciation Office equipment Administrative salaries Depreciation Machinery Sales staff salaries Supervisory salaries $ 0 S 0 s 0 Total fixed costs Income DO Req 1 and 2 Req3 > Req 1 and 2 Reg 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 Budgeted Income Statement For Year Ended December 31 Sales (in units) 18,000 Sales Less: Variable cost Contribution margin Less: Fixed cost Income $ 0 ololololo

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