Required information Problem 23-1A 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 labor Machinery repairs (variable cost) Depreciation Plant equipment (straight line) Utilities ($45,000 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 5930,000 240,000 45,000 330.00 210.000 180.000 1.935 900 1,365,000 90.000 105,000 235.000 430,000 125,000 241 de 80, 446,000 $ 489.000 Problem 23-1A Part 1&2 Required: 1&2. 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 Problem 23-1A Part 1&2 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 Answer is not complete. PHOENIX COMPANY Flexible Budgets For Year Ended December 31, 2019 Flexible Budget Variable Total Fixed Amount per Cost Unit Flexible Budget for: Units Unit Sales of Sales of 14.000 16,000 Sales Variable costs Direct materials Direct labor Machinery repairs Utilities Packaging Shipping OOOOOO g 000 3 Contribution margin Fixed costs Depreciation Plant equipment straight line) Us Piant management salaries Sales salary Advertising expense Salaties OOOOOO Required information PHOENIX COMPANY Flexible Budgets For Year Ended December 31, 2019 Flexible Budget Variable Amount per Total Fixed Cost Unit Flexible Budget for: Units Unit Sales of Sales of 14,000 16,000 Sales Variable costs Direct materials Direct labor Machinery repairs Utilities Packaging Shipping 0.00 0 > Contribution margin Fixed costs Depreciation Plant equipment (straight-line) Utilities Plant management salaries Sales salary Advertising expense Salaries Entertainment expense 0 $ 0 $ Income from operations