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 (expression error) units. Sales Costs PHOENIX COMPANY Fixed Budget For Year Ended December 31 $ 3,234,000 Direct materials Direct labor 985,600 215,600 Sales staff commissions 61,600 Depreciation-Machinery 305,000 Supervisory salaries 201,000 Shipping 231,000 Sales staff salaries (fixed annual amount) Administrative salaries 253,000 628,500 Depreciation-office equipment 191,000 Income 5161,700 Problem 8-1A (Algo) Preparing and analyzing a flexible budget LO P1 Required: 1&2. Prepare flexible budgets at sales volumes of 14,400 and 16,400 units. 3. The company's business conditions are improving. One possible result is a sales volume of 18,400 units. Prepare a simple budgeted income statement if 18,400 units are sold. Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3