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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 15,300 units. Sales Costs PHOENIX COMPANY Fixed Budget For Year Ended December 31 Direct materials Direct labor Sales staff commissions Depreciation-Machinery Supervisory salaries Shipping Sales staff salaries (fixed annual amount) Administrative salaries $ 3,213,000 979,200 214,200 61,200 300,000 197,000 229,500 246,000 631,250

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 15,300 units. Sales Costs PHOENIX COMPANY Fixed Budget For Year Ended December 31 Direct materials Direct labor Sales staff commissions Depreciation-Machinery Supervisory salaries Shipping Sales staff salaries (fixed annual amount) Administrative salaries $ 3,213,000 979,200 214,200 61,200 300,000 197,000 229,500 246,000 631,250

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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 15,300 units. Sales Costs PHOENIX COMPANY Fixed Budget For Year Ended December 31 Direct materials. Direct labor Sales staff commissions Depreciation-Machinery Supervisory salaries Shipping Sales staff salaries (fixed annual amount) Administrative salaries Depreciation-Office equipment Income $ 3,213,000 979,200 214,200 61,200 300,000 197,000 229,500 246,000 631,250 194,000 $160,650 Required: 182. Prepare flexible budgets at sales volumes of 14,300 and 16,300 units. 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. A Complete this question by entering your answers in the tabs below.
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 15,300 units. Sales Costs PHOENIX COMPANY Fixed Budget For Year Ended December 31 Direct materials. Direct labor Sales staff commissions Depreciation-Machinery Supervisory salaries Shipping Sales staff salaries (fixed annual amount) Administrative salaries Depreciation-Office equipment Income $ 3,213,000 979,200 214,200 61,200 300,000 197,000 229,500 246,000 631,250 194,000 $160,650 Required: 182. Prepare flexible budgets at sales volumes of 14,300 and 16,300 units. 3. The company's business conditions are improving. One possible result is a sales volume of 18,300 units. Prepare a simple budgeted income statement if 18,300 units are sold. A Complete this question by entering your answers in the tabs below.
Required: 1&2. Prepare flexible budgets at sales volumes of 14,300 and 16,300 units. 3. The company's business conditions are improving. One possible result is a sales volume of 18,300 units. Prepare a simple budgeted income statement if 18,300 units are sold. Complete this question by entering your answers in the tabs below. Req 1 and 2 Prepare flexible budgets at sales volumes of 14,300 and 16,300 units. PHOENIX COMPANY Flexible Budgets Variable costs Foxed costs Req 3 Req 1 and 2 For Year Ended December 31 Flexible Budget Variable Amount Total Fixed per Unit Cost Req 3 Sales (in units) PHOENIX COMPANY Budgeted Income Statement For Year Ended December 31 Complete this question by entering your answers in the tabs below. Reg1 and 7 18,300 000 0 S Required: 1&2. Prepare flexible budgets at sales volumes of 14,300 and 16,300 units. 3. The company's business conditions are improving. One possible result is a sales volume of 18,300 units. Prepare a simple budgeted income statement if 18,300 units are sold. < Req 1 and 2 Flexible Budget for: Units Sales Unit Sales of of 14,300 16,300 0$ 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. 0 Hey > 0$ 0
Transcribed Image Text:Required: 1&2. Prepare flexible budgets at sales volumes of 14,300 and 16,300 units. 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. Complete this question by entering your answers in the tabs below. Req 1 and 2 Prepare flexible budgets at sales volumes of 14,300 and 16,300 units. PHOENIX COMPANY Flexible Budgets Variable costs Foxed costs Req 3 Req 1 and 2 For Year Ended December 31 Flexible Budget Variable Amount Total Fixed per Unit Cost Req 3 Sales (in units) PHOENIX COMPANY Budgeted Income Statement For Year Ended December 31 Complete this question by entering your answers in the tabs below. Reg1 and 7 18,300 000 0 S Required: 1&2. Prepare flexible budgets at sales volumes of 14,300 and 16,300 units. 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. < Req 1 and 2 Flexible Budget for: Units Sales Unit Sales of of 14,300 16,300 0$ 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. 0 Hey > 0$ 0
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