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Use the following information for the Problems below. (Algo) Skip to question [The...

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Accounting

Use the following information for the Problems below. (Algo)
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[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.
PHOENIX COMPANY
Fixed Budget
For Year Ended December 31
Sales $ 3,000,000
Costs
Direct materials 975,000
Direct labor 225,000
Sales staff commissions 45,000
DepreciationMachinery 300,000
Supervisory salaries 203,000
Shipping 225,000
Sales staff salaries (fixed annual amount)248,000
Administrative salaries 432,000
DepreciationOffice equipment 197,000
Income $ 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 companys 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.

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