Required information [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. Sales Costs Direct materials Direct labor Sales staff commissions Depreciation Machinery Supervisory salaries PHOENIX COMPANY Fixed Budget For Year Ended December 31 Shipping Sales staff salaries (fixed annual amount) Administrative salaries Depreciation Office equipment Income 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. Req 1 and 2 Req 3 Prepare flexible budgets at sales volumes of 14,100 and 16,100 units. PHOENIX COMPANY Flexible Budgets Variable costs Complete this question by entering your answers in the tabs below. Fixed costs For Year Ended December 31 Flexible Budget $ 3,171,000 996,600 226,500 60,400 300,000 199,000 226,500 253,000 551,450 199,000 $ 158,550 0.00 Variable Amount Total Fixed per Unit Cost $ Flexible Budget for: Units Sales Unit Sales of of 14,100 16,100 0 $ OS 0 0
Required information [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. Sales Costs Direct materials Direct labor Sales staff commissions Depreciation Machinery Supervisory salaries PHOENIX COMPANY Fixed Budget For Year Ended December 31 Shipping Sales staff salaries (fixed annual amount) Administrative salaries Depreciation Office equipment Income 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. Req 1 and 2 Req 3 Prepare flexible budgets at sales volumes of 14,100 and 16,100 units. PHOENIX COMPANY Flexible Budgets Variable costs Complete this question by entering your answers in the tabs below. Fixed costs For Year Ended December 31 Flexible Budget $ 3,171,000 996,600 226,500 60,400 300,000 199,000 226,500 253,000 551,450 199,000 $ 158,550 0.00 Variable Amount Total Fixed per Unit Cost $ Flexible Budget for: Units Sales Unit Sales of of 14,100 16,100 0 $ OS 0 0
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Concept explainers
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
Question
A4
![Required information
[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.
Sales
Costs
Direct materials
Direct labor
Sales staff commissions
Depreciation Machinery
Supervisory salaries
Shipping
Sales staff salaries (fixed annual amount)
Administrative salaries
Depreciation Office equipment
Income
PHOENIX COMPANY
Fixed Budget
For Year Ended December 31
Required:
182. 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 of 18,100 units are sold.
Req 1 and 2
Complete this question by entering your answers in the tabs below.
Variable costs
Req 3
Prepare flexible budgets at sales volumes of 14,100 and 16,100 units.
PHOENIX COMPANY
Flexible Budgets
For Year Ended December 31
Flexible Budget
Fixed costs
$ 3,171,000
996,600
226,500
60,400
300,000
199,000
226,500
253,000
551,450
199,000
$ 158,550
Variable Amount Total Fixed
per Unit
Cost
0.00
$
Flexible Budget for:
Units Sales Unit Sales of
of 14,100 16,100
0 $
0
0 S
0
0](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fad20a5ff-0602-4af2-9825-fb30bc55f6cb%2F86fb8f8a-09a5-4edf-b288-c5f0c06c2851%2Fsu0usn9_processed.png&w=3840&q=75)
Transcribed Image Text:Required information
[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.
Sales
Costs
Direct materials
Direct labor
Sales staff commissions
Depreciation Machinery
Supervisory salaries
Shipping
Sales staff salaries (fixed annual amount)
Administrative salaries
Depreciation Office equipment
Income
PHOENIX COMPANY
Fixed Budget
For Year Ended December 31
Required:
182. 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 of 18,100 units are sold.
Req 1 and 2
Complete this question by entering your answers in the tabs below.
Variable costs
Req 3
Prepare flexible budgets at sales volumes of 14,100 and 16,100 units.
PHOENIX COMPANY
Flexible Budgets
For Year Ended December 31
Flexible Budget
Fixed costs
$ 3,171,000
996,600
226,500
60,400
300,000
199,000
226,500
253,000
551,450
199,000
$ 158,550
Variable Amount Total Fixed
per Unit
Cost
0.00
$
Flexible Budget for:
Units Sales Unit Sales of
of 14,100 16,100
0 $
0
0 S
0
0
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