Phoenix Company reports the following fixed budget. It is based on an expected production and sales...
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Phoenix Company reports the following fixed budget. It is based on an expected production and sales volume of 15,100 units. PHOENIX COMPANY Fixed Budget For Year Ended December 31 $ Sales 3,020,000 Costs Direct materials 996, 600 Direct labor 211,400 Sales staff commissions 60,400 Depreciation-Machinery 305,000 Supervisory salaries. 202,000 Shipping 211,400 Sales staff salaries (fixed annual 248,000 amount) Administrative salaries 442, 200 192,000 Depreciation-Office equipment Income $ 151,000 Required: 1&2. Prepare flexible budgets at sales volumes of 14,100 and 16,100 units. 3. The company's business conditions are improving. One possible result is a sales volume of 18,100 units. Prepare a simple budgeted income statement if 18,100 units are sold. Complete this question by entering your answers in the tabs below. Req 1 Req 3 and 2 Prepare flexible budgets at sales volumes of 14,100 and 16,100 units. PHOENIX COMPANY Flexible Budgets For Year Ended December 31 Flexible Budget Flexible Bud for: Total Units Unit Fixed Sales of Sales of Cost 14,100 16,100 Variable costs Fixed costs Variable Amount per Unit Phoenix Company reports the following fixed budget. It is based on an expected production and sales volume of 15,100 units. PHOENIX COMPANY Fixed Budget For Year Ended December 31 $ Sales 3,020,000 Costs Direct materials 996, 600 Direct labor 211,400 Sales staff commissions 60,400 Depreciation-Machinery 305,000 Supervisory salaries. 202,000 Shipping 211,400 Sales staff salaries (fixed annual 248,000 amount) Administrative salaries 442, 200 192,000 Depreciation-Office equipment Income $ 151,000 Required: 1&2. Prepare flexible budgets at sales volumes of 14,100 and 16,100 units. 3. The company's business conditions are improving. One possible result is a sales volume of 18,100 units. Prepare a simple budgeted income statement if 18,100 units are sold. Complete this question by entering your answers in the tabs below. Req 1 Req 3 and 2 Prepare flexible budgets at sales volumes of 14,100 and 16,100 units. PHOENIX COMPANY Flexible Budgets For Year Ended December 31 Flexible Budget Flexible Bud for: Total Units Unit Fixed Sales of Sales of Cost 14,100 16,100 Variable costs Fixed costs Variable Amount per Unit
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Related Book For
Intermediate Accounting
ISBN: 978-0324659139
11th edition
Authors: Loren A. Nikolai, John D. Bazley, Jefferson P. Jones
Posted Date:
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