Required information Problem 21-1A Preparing and analyzing a flexible budget LO P1, A1 [The following information applies to the questions displayed below] Phoenix Company's 2019 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units $3,300,000 PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2019 Sales Cost of goods sold Direct materials Direct lobor Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line) Utilities ($30,000 is variable) Plent management solaries Gross profit Selling expenses Packaging Shipping Sales salary (fixed annual amount) General and administrative expenses Advertising expense Salaries Entertainment expense Income from operations $ 930,000 210,000 45,000 315,000 195,000 210,000 1.905.000 1,395,000 90,000 90,000 235,000 415,000 125,000 241,000 75.000 441,000 $ 539,000 Required information Required: 182. Prepare flexible budgets for the company at sales volumes of 14,000 and 16,000 units and classify all items listed in the fixed budget as variable or fixed PHOENIX COMPANY Flexible Budgets For Year Ended December 31, 2019 Flexible Budget Variable Amount Total Fixed Cost Flexible Budget for Units Sales Unit Sales of o 14,000 16,000 per Unit Sales Variable costs Direct materials Direct labor Machinery repairs Uites Packaging Shipping es 0.00 Total variable costs Contribution margin Fixed costs Depreciation Plant equipment straight line) Us Plant management salaries Sales salary Advertising expense Salaries Entertainment experte Total costs Income from operations $ 0 0