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Phoenix Company reports the following fixed budget. It is based on an expected production and sales volume of $15,400$ units.

PHOENIX COMPANY

Fixed Budget

For Year Ended December $31$

Sales $ $3,234,000$

Costs

Direct materials $1,001,000$

Direct labor $231,000$

Sales staff commissions $61,600$

Depreciation$$Machinery $305,000$

Supervisory salaries $200,000$

Shipping $246,400$

Sales staff salaries $($fixed annual amount$)250,000$

Administrative salaries $579,300$

Depreciation$$Office equipment $198,000$

Income $ $161,700$

Problem $23-2$A $($Algo$)$ Preparing a flexible budget performance report LO P$1$

Phoenix Company reports the following actual results. Actual sales were $18,400$ units.

Sales $(18,400$ units$)$ $ $3,910,000$

Costs

Direct materials $ $1,210,720$

Direct labor $283,360$

Sales staff commissions $64,400$

Depreciation$$Machinery $305,000$

Supervisory salaries $214,000$

Shipping $286,120$

Sales staff salaries $($fixed annual amount$)270,000$

Administrative salaries $586,300$

Depreciation$$Office equipment $198,000$

Income $492,100$

Required:

Prepare a flexible budget performance report for the year.

Note: Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select $"$No variance" and enter $"0"$ for zero variance.signment

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