Problem 08-2A Preparing and analyzing a flexible budget performance report LO P1, P2, A1 Phoenix Company's 2019 master budget included the following fixed budget report. It is based on an expected production and sales volume of 17,000 units. ped $3,400,000 ook rint rences PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2019 Sales Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line) Utilities ($51,000 is variable) Plant management salaries Gross profit Selling expenses Packaging Shipping Sales salary(fixed annual amount) General and administrative expenses Advertising expense Salaries Entertainment expense Income from operations $1,190,000 255,000 68,000 300,000 201,000 230,000 2,244,000 1,156,000 85,000 119,000 260,000 29,00 464,000 -33,000 133,000 241,000 110,000 484,000 208,000 $ - A a N T Problem 08-2A Preparing and analyzing a flexible budget performance report LO P1, P2, A1 Phoenix Company's 2019 master budget included the following fixed budget report. It is based on an expected production and sales volume of 17,000 units. ped $3,400,000 ook rint rences PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2019 Sales Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line) Utilities ($51,000 is variable) Plant management salaries Gross profit Selling expenses Packaging Shipping Sales salary(fixed annual amount) General and administrative expenses Advertising expense Salaries Entertainment expense Income from operations $1,190,000 255,000 68,000 300,000 201,000 230,000 2,244,000 1,156,000 85,000 119,000 260,000 29,00 464,000 -33,000 133,000 241,000 110,000 484,000 208,000 $ - A a N T