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 15,00 units. Sales Costs PHOENIX COMPANY Fixed Budget For Year Ended December 31 Direct materials Direct labor Sales staff commissions Depreciation-Machinery Supervisory salaries Shipping Sales staff salaries (fixed annual amount) Administrative salaries Depreciation-office equipment Income $3,000,000 990,000 210,000 60,000 300,000 199,000 225,000 246,000 423,000 197,000 $ 150,000 Problem 8-1A (Algo) Preparing and analyzing a flexible budget LO P1 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 bude income statement if 18,000 units are sold. ok k ht ences Sales Variable costs Direct materials Direct labor Sales staff commissions Shipping Total variable costs Contribution margin Fixed costs Depreciation-Machinery Supervisory salaries Sales staff salaries Administrative salaries Depreciation-Office equipment Total fixed costs Income PHOENIX COMPANY Flexible Budgets For Year Ended December 31 Flexible Budget per Unit Variable Amount Total Fixed Cost Flexible Budget for: Units Sales Unit Sales of of 14,000 16,000 0.00 0 0 $ 0 $ 0 $ 0 Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 34 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. PHOENIX COMPANY Budgeted Income Statement For Year Ended December 31 Sales (in units) Sales Less: Variable cost Contribution margin Less: Fixed cost Income 18,000 104 $ 0