Problem $21-1$A $($Static$)$ Preparing and analyzing a flexible budget LO P$1$

Required:

$1$&$2.$ Prepare flexible budgets at sales volumes of $14,000$ and $16,000$ units.

$3.$ The company$$s 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. Required intormation

Prepare flexible budgets at sales volumes of $14,000$ and $16,000$ units.

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

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

$\backslash$hline $\backslash$multicolumn$\{5\}\{|$c$|\}\{$Flexible Budgets$\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{5\}\{|$c$|\}\{$For Year Ended December $31\}\backslash \backslash$

$\backslash$hline & $\backslash$multicolumn$\{2\}\{|$l$|\}\{$Flexible Budget$\}$ & $\backslash$multicolumn$\{2\}\{|$l$|\}\{$Flexible Budget for:$\}\backslash \backslash$

$\backslash$hline & Variable Amount per Unit & Total Fixed Cost & Units Sales of $14,000$ & Unit Sales of

$16,000\backslash \backslash$

$\backslash$hline Sales & $\backslash$$ $200\mathrm{.}00$ & & $\backslash$$$2,800,000$ & $\backslash$$ $3,200,000\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{5\}\{|$l$|\}\{$Variable costs$\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{5\}\{|$l$|\}\{$Direct materials$\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{5\}\{|$l$|\}\{$Direct labor$\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{5\}\{|$l$|\}\{$Sales staff commissions$\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{5\}\{|$l$|\}\{$Shipping$\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{5\}\{|$l$|\}\{\}\backslash \backslash$

$\backslash$hline & $0\mathrm{.}00$ & & $0$ & $0\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{5\}\{|$l$|\}\{$Contribution margin$\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{5\}\{|$l$|\}\{$Fixed costs$\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{5\}\{|$l$|\}\{$Depreciation$-$Machinery$\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{5\}\{|$l$|\}\{$Supervisory salaries$\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{5\}\{|$l$|\}\{$Sales staff salaries$\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{5\}\{|$l$|\}\{$Administrative salaries$\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{5\}\{|$l$|\}\{$Depreciation$-$Office equipment$\}\backslash \backslash$

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

$\backslash$hline Total fixed costs & & $\backslash (\backslash$$ $0\backslash )$ & $\backslash$$ $\backslash (\backslash$quad $0\backslash )$ & $\backslash (\backslash$$ $0\backslash )\backslash \backslash$

$\backslash$hline Income & & & & $\backslash \backslash$

$\backslash$hline

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

Required information

Use the following information for the Problems below. $($Static$)$

$[$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.

Problem $21-1$A $($Static$)$ Preparing and analyzing a flexible budget LO P$1$

Required:

$1\backslash$&$2.$ Prepare flexible budgets at sales volumes of $14,000$ and $16,000$ units.

$3.$ The company's 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.