Prepare a flexible budget performance report for the year. $!$

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 $15,200$ units.

$\backslash$begin$\{$tabular$\}\{|$c$|$c$|\}$

$\backslash$hline $\backslash$multicolumn$\{2\}\{|$l$|\}\{$PHOENIX COMPANY Fixed Budget$\}\backslash \backslash$

$\backslash$hline Sales & $\backslash$$ $3,040,000\backslash \backslash$

$\backslash$hline Costs & $\backslash \backslash$

$\backslash$hline Direct materials & $988,000\backslash \backslash$

$\backslash$hline Direct labor & $243,200\backslash \backslash$

$\backslash$hline Sales staff commissions & $76,000\backslash \backslash$

$\backslash$hline Depreciation$-$Machinery & $300,000\backslash \backslash$

$\backslash$hline Supervisory salaries & $200,000\backslash \backslash$

$\backslash$hline Shipping & $212,800\backslash \backslash$

$\backslash$hline Sales staff salaries $($fixed annual amount$)$ & $246,000\backslash \backslash$

$\backslash$hline Administrative salaries & $426,000\backslash \backslash$

$\backslash$hline Depreciation$-$Office equipment & $196,000\backslash \backslash$

$\backslash$hline ncome & $\backslash$$ $152,000\backslash \backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}$

Problem $8-2$A $($Algo$)$ Preparing a flexible budget performance report LO P$1$

Phoenix Company reports the following actual results. Actual sales were $18,200$ units.

$\backslash$begin$\{$tabular$\}\{$lr$\}$

Sales $\backslash ((18,200\backslash )$ units$)$ & $\backslash (\backslash$$ $3,685,500\backslash )\backslash \backslash$

Costs & $\backslash (\backslash$$ $1,197,560\backslash )\backslash \backslash$

Direct materials & $898,480\backslash \backslash$

Direct labor & $31,900\backslash \backslash$

Sales staff commissions & $215,000\backslash \backslash$

Depreciation$-$Machinery & $246,610\backslash \backslash$

Supervisory salaries & $266,000\backslash \backslash$

Shipping & $435,000\backslash \backslash$

Sales staff salaries $($fixed annual amount$)$ & $196,000\backslash \backslash$

Administrative salaries & $448,950\backslash \backslash$

$\backslash$hline Depreciation$-$Office equipment & $\backslash (\backslash$boxed$\{\}\backslash )$

$\backslash$end$\{$tabular$\}$

Required:

Prepare a flexible budget performance report for the year.

Note: Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select $"$No variance" and enter $"$O$"$ for zero variance.

$\backslash$begin$\{$tabular$\}\{|$c$|$c$|$c$|$c$|$c$|\}$

$\backslash$hline $\backslash$multicolumn$\{5\}\{|$c$|\}\{$PHOENIX COMPANY$\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{5\}\{|$c$|\}\{$Flexible Budget Performance Report$\}\backslash \backslash$

$\backslash$hline For Year Ended December $31$ & $\backslash$begin$\{$tabular$\}\{$l$\}$

Flexible $\backslash \backslash$

Budget $(18,200$ units$)$

$\backslash$end$\{$tabular$\}$ & Actual Results $(18,200$ units$)$ & Variances & Favorable or Unfavorable $\backslash \backslash$

$\backslash$hline $-$ & $-$ & & & $\backslash \backslash$

$\backslash$hline Variable costs & & & & $\backslash \backslash$

$\backslash$hline P & & & & $\backslash \backslash$

$\backslash$hline $-$ & & & & $\backslash \backslash$

$\backslash$hline P & & & & $\backslash \backslash$

$\backslash$hline $-$ & & & & $\backslash \backslash$

$\backslash$hline $-$ & & & & $\backslash \backslash$

$\backslash$hline P & & & & $\backslash \backslash$

$\backslash$hline $-$ & & & & $\backslash \backslash$

$\backslash$hline Fixed costs & & & & $\backslash \backslash$

$\backslash$hline P & & & & $\backslash \backslash$

$\backslash$hline $-$ & & & & $\backslash \backslash$

$\backslash$hline $-$ & & & & $\backslash \backslash$

$\backslash$hline $-$ & & & & $\backslash \backslash$

$\backslash$hline $+$ & & & & $\backslash \backslash$

$\backslash$hline $?$ & $,$ & & & $\backslash \backslash$

$\backslash$hline $-$ & & & & $\backslash \backslash$

$\backslash$hline $-$ & & & & $\backslash \backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}!$

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 $15,200$ units.

$\backslash$begin$\{$tabular$\}\{|$c$|$c$|\}$

$\backslash$hline $\backslash$multicolumn$\{2\}\{|$l$|\}\{$PHOENIX COMPANY Fixed Budget$\}\backslash \backslash$

$\backslash$hline Sales & $\backslash$$ $3,040,000\backslash \backslash$

$\backslash$hline Costs & $\backslash \backslash$

$\backslash$hline Direct materials & $988,000\backslash \backslash$

$\backslash$hline Direct labor & $243,200\backslash \backslash$

$\backslash$hline Sales staff commissions & $76,000\backslash \backslash$

$\backslash$hline Depreciation$-$Machinery & $300,000\backslash \backslash$

$\backslash$hline Supervisory salaries & $200,000\backslash \backslash$

$\backslash$hline Shipping & $212,800\backslash \backslash$

$\backslash$hline Sales staff salaries $($fixed annual amount$)$ & $246,000\backslash \backslash$

$\backslash$hline Administrative salaries & $426,000\backslash \backslash$

$\backslash$hline Depreciation$-$Office equipment & $196,000\backslash \backslash$

$\backslash$hline ncome & $\backslash$$ $152,000\backslash \backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}$

Problem $8-2$A $($Algo$)$ Preparing a flexible budget performance report LO P$1$

Phoenix Company reports the following actual results. Actual sales were $18,200$ units.

$\backslash$begin$\{$tabular$\}\{$lr$\}$

Sales $\backslash ((18,200\backslash )$ units$)$ & $\backslash (\backslash$$ $3,685,500\backslash )\backslash \backslash$

Costs & $\backslash (\backslash$$ $1,197,560\backslash )\backslash \backslash$

Direct materials & $898,480\backslash \backslash$

Direct labor & $31,900\backslash \backslash$

Sales staff commissions & $215,000\backslash \backslash$

Depreciation$-$Machinery & $246,610\backslash \backslash$

Supervisory salaries & $266,000\backslash \backslash$

Shipping & $435,000\backslash \backslash$

Sales staff salaries $($fixed annual amount$)$ & $196,000\backslash \backslash$

Administrative salaries & $448,950\backslash \backslash$

$\backslash$hline Depreciation$-$Office equipment & $\backslash (\backslash$boxed$\{\}\backslash )$

$\backslash$end$\{$tabular$\}$

Required:

Prepare a flexible budget performance report for the year.

Note: Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select $"$No variance" and enter $"$O$"$ for zero variance.

$\backslash$begin$\{$tabular$\}\{|$c$|$c$|$c$|$c$|$c$|\}$

$\backslash$hline $\backslash$multicolumn$\{5\}\{|$c$|\}\{$PHOENIX COMPANY$\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{5\}\{|$c$|\}\{$Flexible Budget Performance Report$\}\backslash \backslash$

$\backslash$hline For Year Ended December $31$ & $\backslash$begin$\{$tabular$\}\{$l$\}$

Flexible $\backslash \backslash$

Budget $(18,200$ units$)$

$\backslash$end$\{$tabular$\}$ & Actual Results $(18,200$ units$)$ & Variances & Favorable or Unfavorable $\backslash \backslash$

$\backslash$hline $-$ & $-$ & & & $\backslash \backslash$

$\backslash$hline Variable costs & & & & $\backslash \backslash$

$\backslash$hline P & & & & $\backslash \backslash$

$\backslash$hline $-$ & & & & $\backslash \backslash$

$\backslash$hline P & & & & $\backslash \backslash$

$\backslash$hline $-$ & & & & $\backslash \backslash$

$\backslash$hline $-$ & & & & $\backslash \backslash$

$\backslash$hline P & & & & $\backslash \backslash$

$\backslash$hline $-$ & & & & $\backslash \backslash$

$\backslash$hline Fixed costs & & & & $\backslash \backslash$

$\backslash$hline P & & & & $\backslash \backslash$

$\backslash$hline $-$ & & & & $\backslash \backslash$

$\backslash$hline $-$ & & & & $\backslash \backslash$

$\backslash$hline $-$ & & & & $\backslash \backslash$

$\backslash$hline $+$ & & & & $\backslash \backslash$

$\backslash$hline $?$ & $,$ & & & $\backslash \backslash$

$\backslash$hline $-$ & & & & $\backslash \backslash$

$\backslash$hline $-$ & & & & $\backslash \backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}$