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Part 2 of 2 Phoenix Company reports the following fixed budget. It is based on an expected production and sales volume of 15,100 units. 2 points Sales Costs Direct materials Direct labor PHOENIX COMPANY Fixed Budget For Year Ended December 31 eBook Print References Sales staff commissions Depreciation-Machinery Supervisory salaries Shipping Sales staff salaries (fixed annual amount) Administrative salaries Depreciation-office equipment Income $ 3,020,000 966,400 226,500 75,500 300,000 196,000 211,400 251,000 445,200 197,000 $ 151,000 5 Part 2 of 2 Phoenix Company reports the following actual results. Actual sales were 18,100 units. Sales (18,100 units) Costs Direct materials Direct labor $3,665,250 $ 1,172,880 2 points 278,740 Sales staff commissions 81,450 Depreciation-Machinery 300,000 Supervisory salaries 207,000 Shipping 245,255 eBook Sales staff salaries (fixed annual amount) Administrative salaries 271,000 454,200 Print Depreciation-office equipment 197,000 References Income 457,725 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 "O" for zero variance. For Year Ended December 31 PHOENIX COMPANY Flexible Budget Performance Report Budget (18,100 Actual Results Sales Flexible Variances Favorable or Unfavorable units) (18,100 units) $ 3,620,000 $ 3,665,250 $ 45,250 Favorable

Part 2 of 2 Phoenix Company reports the following fixed budget. It is based on an expected production and sales volume of 15,100 units. 2 points Sales Costs Direct materials Direct labor PHOENIX COMPANY Fixed Budget For Year Ended December 31 eBook Print References Sales staff commissions Depreciation-Machinery Supervisory salaries Shipping Sales staff salaries (fixed annual amount) Administrative salaries Depreciation-office equipment Income $ 3,020,000 966,400 226,500 75,500 300,000 196,000 211,400 251,000 445,200 197,000 $ 151,000 5 Part 2 of 2 Phoenix Company reports the following actual results. Actual sales were 18,100 units. Sales (18,100 units) Costs Direct materials Direct labor $3,665,250 $ 1,172,880 2 points 278,740 Sales staff commissions 81,450 Depreciation-Machinery 300,000 Supervisory salaries 207,000 Shipping 245,255 eBook Sales staff salaries (fixed annual amount) Administrative salaries 271,000 454,200 Print Depreciation-office equipment 197,000 References Income 457,725 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 "O" for zero variance. For Year Ended December 31 PHOENIX COMPANY Flexible Budget Performance Report Budget (18,100 Actual Results Sales Flexible Variances Favorable or Unfavorable units) (18,100 units) $ 3,620,000 $ 3,665,250 $ 45,250 Favorable

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter8: Budgeting
Section: Chapter Questions
Problem 1BE: At the beginning of the period, the Fabricating Department budgeted direct labor of 72,000 and...
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Part 2 of 2 Phoenix Company reports the following fixed budget. It is based on an expected production and sales volume of 15,100 units. 2 points Sales Costs Direct materials Direct labor PHOENIX COMPANY Fixed Budget For Year Ended December 31 eBook Print References Sales staff commissions Depreciation-Machinery Supervisory salaries Shipping Sales staff salaries (fixed annual amount) Administrative salaries Depreciation-office equipment Income $ 3,020,000 966,400 226,500 75,500 300,000 196,000 211,400 251,000 445,200 197,000 $ 151,000 5 Part 2 of 2 Phoenix Company reports the following actual results. Actual sales were 18,100 units. Sales (18,100 units) Costs Direct materials Direct labor $3,665,250 $ 1,172,880 2 points 278,740 Sales staff commissions 81,450 Depreciation-Machinery 300,000 Supervisory salaries 207,000 Shipping 245,255 eBook Sales staff salaries (fixed annual amount) Administrative salaries 271,000 454,200 Print Depreciation-office equipment 197,000 References Income 457,725 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 "O" for zero variance. For Year Ended December 31 PHOENIX COMPANY Flexible Budget Performance Report Budget (18,100 Actual Results Sales Flexible Variances Favorable or Unfavorable units) (18,100 units) $ 3,620,000 $ 3,665,250 $ 45,250 Favorable
Transcribed Image Text:Part 2 of 2 Phoenix Company reports the following fixed budget. It is based on an expected production and sales volume of 15,100 units. 2 points Sales Costs Direct materials Direct labor PHOENIX COMPANY Fixed Budget For Year Ended December 31 eBook Print References Sales staff commissions Depreciation-Machinery Supervisory salaries Shipping Sales staff salaries (fixed annual amount) Administrative salaries Depreciation-office equipment Income $ 3,020,000 966,400 226,500 75,500 300,000 196,000 211,400 251,000 445,200 197,000 $ 151,000 5 Part 2 of 2 Phoenix Company reports the following actual results. Actual sales were 18,100 units. Sales (18,100 units) Costs Direct materials Direct labor $3,665,250 $ 1,172,880 2 points 278,740 Sales staff commissions 81,450 Depreciation-Machinery 300,000 Supervisory salaries 207,000 Shipping 245,255 eBook Sales staff salaries (fixed annual amount) Administrative salaries 271,000 454,200 Print Depreciation-office equipment 197,000 References Income 457,725 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 "O" for zero variance. For Year Ended December 31 PHOENIX COMPANY Flexible Budget Performance Report Budget (18,100 Actual Results Sales Flexible Variances Favorable or Unfavorable units) (18,100 units) $ 3,620,000 $ 3,665,250 $ 45,250 Favorable
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