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M inces ! 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 15,100 units. Sales Costs PHOENIX COMPANY Fixed Budget For Year Ended December 31 Direct materiale Direct labor Sales staff commissions Depreciation Machinery Supervisory salaries. Shipping Sales staff salaries (fixed annual amount) Administrative salaries Depreciation-office equipment Income $3,020,000 996,600 211,400 60,400 300,000 205,000 226,500 254,000 416,100 199,000 $ 151,000 Problem 21-2A (Algo) Preparing a flexible budget performance report LO P1 Phoenix Company reports the following actual results. Actual sales were 18,100 units. Sales (18,100 units) $ 3,665,250 Costs $ 1,209,080 260,640 63,350 300,000 218,000 263,355 272,000 424,100 199,000 455,7251 Direct materials Direct labor Sales staff commissions Depreciation-Machinery Supervisory salaries Shipping Sales staff salaries (fixed annual amount) Administrative salaries Depreciation-office equipment Income Required: Prepare a flexible budget performance report for the year. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "No variance" and enter "0" for zero variance.) For Year Ended December 31 Variable costs PHOENIX COMPANY Flexible Budget Performance Report Flexible Budget (18,100 units) Actual Results (18,100 units) Variances Favorable/Unfavorable ook rint rences For Year Ended December 31 Variable costs Fixed costs PHOENIX COMPANY Flexible Budget Performance Report Flexible Budget (18,100 units) Actual Results (18,100 units) Variances Favorable/Unfavorable