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Reg 1 and 2 Reg 3 The company's business conditions are improving. One possible result is a sales volume of 18,300 units. Prepare a simple budgeted income statement if 18,300 units are sold. PHOENIX COMPANY Budgeted Income Statement For Year Ended December 31 Bales (in units) 18,300 < Req 1 and 2 Reg 3> $ 3,888,750 Sales (18,300 units) Costs Direct materials Direct labor Sales staff commissions Depreciation-Machinery Supervisory salaries Shipping Sales staff salaries (fixed annual amount) $ 1,204,140 281,820 82,350 305,e00 218,000 284,565 271, 000 Administrative salaries 526,920 193, eee Depreciation-office equipment Income 521,955 Prepare a flexible budget performance report for the year. (Indicate the effect of each variance by selecting "Favorab "Unfavorable". Select "No variance" and enter "O" for zero variance.) PHOENIX COMPANY Flexible Budget Performance Report Flexible Budget (18,300 units) Actual Results For Year Ended December 31 Variances Favorable/Unfavorable (18,300 units) Variable costs Fixed costs

Reg 1 and 2 Reg 3 The company's business conditions are improving. One possible result is a sales volume of 18,300 units. Prepare a simple budgeted income statement if 18,300 units are sold. PHOENIX COMPANY Budgeted Income Statement For Year Ended December 31 Bales (in units) 18,300 < Req 1 and 2 Reg 3> $ 3,888,750 Sales (18,300 units) Costs Direct materials Direct labor Sales staff commissions Depreciation-Machinery Supervisory salaries Shipping Sales staff salaries (fixed annual amount) $ 1,204,140 281,820 82,350 305,e00 218,000 284,565 271, 000 Administrative salaries 526,920 193, eee Depreciation-office equipment Income 521,955 Prepare a flexible budget performance report for the year. (Indicate the effect of each variance by selecting "Favorab "Unfavorable". Select "No variance" and enter "O" for zero variance.) PHOENIX COMPANY Flexible Budget Performance Report Flexible Budget (18,300 units) Actual Results For Year Ended December 31 Variances Favorable/Unfavorable (18,300 units) Variable costs Fixed costs

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Req 1 and 2 Req 3 The company's business conditions are improving. One possible result is a sales volume of 18,300 units. Prepare a simple budgeted income statement if 18,300 units are sold. PHOENIX COMPANY Budgeted Income Statement For Year Ended December 31 Sales (in units) 18,300 < Req 1 and 2 Reg 3> Sales (18,300 units) $ 3,888,750 Costs Direct materials Direct labor $ 1,204,140 281,820 82,350 305, e00 Sales staff commissions Depreciation-Machinery Supervisory salaries Shipping Sales staff salaries (fixed annual amount) Administrative salaries Depreciation-Office equipment 218, e00 284,565 271,e00 526,920 193, еее Income 521,955 Prepare a flexible budget performance report for the year. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "No variance" and enter "O" for zero variance.) PHOENIX COMPANY Flexible Budget Performance Report Flexible Budget (18,300 Actual Results units) For Year Ended December 31 Variances Favorable/Unfavorable (18,300 units) Variable costs Fixed costs
Transcribed Image Text:Req 1 and 2 Req 3 The company's business conditions are improving. One possible result is a sales volume of 18,300 units. Prepare a simple budgeted income statement if 18,300 units are sold. PHOENIX COMPANY Budgeted Income Statement For Year Ended December 31 Sales (in units) 18,300 < Req 1 and 2 Reg 3> Sales (18,300 units) $ 3,888,750 Costs Direct materials Direct labor $ 1,204,140 281,820 82,350 305, e00 Sales staff commissions Depreciation-Machinery Supervisory salaries Shipping Sales staff salaries (fixed annual amount) Administrative salaries Depreciation-Office equipment 218, e00 284,565 271,e00 526,920 193, еее Income 521,955 Prepare a flexible budget performance report for the year. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "No variance" and enter "O" for zero variance.) PHOENIX COMPANY Flexible Budget Performance Report Flexible Budget (18,300 Actual Results units) For Year Ended December 31 Variances Favorable/Unfavorable (18,300 units) Variable costs Fixed costs
PHOENIX COMPANY Fixed Budget For Year Ended December 31 Sales $ 3,213,000 Costs Direct materials 994,500 229,500 76,500 305,000 203,000 244, 800 253, еее 520,920 193,000 Direct labor Sales staff commissions Depreciation-Machinery Supervisory salaries Shipping Sales staff salaries (fixed annual amount) Administrative salaries Depreciation-Office equipment Income $ 192,780 Prepare flexible budgets at sales volumes of 14,300 and 16,300 units. PHOENIX COMPANY Flexible Budgets For Year Ended December 31 Flexible Budget Flexible Budget for: Variable Amount Total Fixed Units Sales Unit Sales of per Unit Cost of 14,300 16.300 Variable costs Fixed costs < Reg 1 and 2 Req 3 >
Transcribed Image Text:PHOENIX COMPANY Fixed Budget For Year Ended December 31 Sales $ 3,213,000 Costs Direct materials 994,500 229,500 76,500 305,000 203,000 244, 800 253, еее 520,920 193,000 Direct labor Sales staff commissions Depreciation-Machinery Supervisory salaries Shipping Sales staff salaries (fixed annual amount) Administrative salaries Depreciation-Office equipment Income $ 192,780 Prepare flexible budgets at sales volumes of 14,300 and 16,300 units. PHOENIX COMPANY Flexible Budgets For Year Ended December 31 Flexible Budget Flexible Budget for: Variable Amount Total Fixed Units Sales Unit Sales of per Unit Cost of 14,300 16.300 Variable costs Fixed costs < Reg 1 and 2 Req 3 >
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