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 15,100 units PHOENIX COMPANY Fixed Budget For Year Ended December 31 Sales Costs Direct materials $ 3,020,000 966,400 Direct labor 241,000 Sales staff commissions 60,400 Depreciation Machinery 300,000 Supervisory salaries 197,000 Shipping 241,600 Sales staff salaries (fixed annual amount) Administrative salaries 246,000 417,000 Depreciation-office equipment 199,000 Incone $151,000 Problem 21-1A (Algo) Preparing and analyzing a flexible budget LO P1 Required: 1&2. Prepare flexible budgets at sales volumes of 14,100 and 16,100 units. 3. The company's business conditions are improving. One possible result is a sales volume of 18,100 units. Prepare a simple budgeted income statement if 18,100 units are sold