Homework Help is Here – Start Your Trial Now!
Business
Accounting
! 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 15,000 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 $ 3,000,000 975,000 225,000 60,000 300,000 200,000 225,000 250,000 411,000 195,000 $ 159,000 Required: 1&2. Prepare flexible budgets at sales volumes of 14,000 and 16,000 units. 3. The company's business conditions are improving. One possible result is a sales volume of 18,000 units. Prepare a simple budgeted income statement if 18,000 units are sold.

! 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 15,000 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 $ 3,000,000 975,000 225,000 60,000 300,000 200,000 225,000 250,000 411,000 195,000 $ 159,000 Required: 1&2. Prepare flexible budgets at sales volumes of 14,000 and 16,000 units. 3. The company's business conditions are improving. One possible result is a sales volume of 18,000 units. Prepare a simple budgeted income statement if 18,000 units are sold.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
icon
Concept explainers
Question

Please do not give solution in image format thanku 

! 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 15,000 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 $ 3,000,000 975,000 225,000 60,000 300,000 200,000 225,000 250,000 411,000 195,000 $ 159,000 Required: 1&2. Prepare flexible budgets at sales volumes of 14,000 and 16,000 units. 3. The company's business conditions are improving. One possible result is a sales volume of 18,000 units. Prepare a simple budgeted income statement if 18,000 units are sold.
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 15,000 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 $ 3,000,000 975,000 225,000 60,000 300,000 200,000 225,000 250,000 411,000 195,000 $ 159,000 Required: 1&2. Prepare flexible budgets at sales volumes of 14,000 and 16,000 units. 3. The company's business conditions are improving. One possible result is a sales volume of 18,000 units. Prepare a simple budgeted income statement if 18,000 units are sold.
Required: 1&2. Prepare flexible budgets at sales volumes of 14,000 and 16,000 units. 3. The company's business conditions are improving. One possible result is a sales volume of 18,000 units. Prepare a simple budgeted income statement if 18,000 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 14,000 and 16,000 units. PHOENIX COMPANY Flexible Budgets For Year Ended December 31 Flexible Budget Variable costs Fixed costs Req 3 Req 1 and 2 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. Variable Amount Total Fixed per Unit Cost $ < Req 1 and 2 18,000 0 0.00 $ 1&2. Prepare flexible budgets at sales volumes of 14,000 and 16,000 units. 3. The company's business conditions are improving. One possible result is a sales volume of 18,000 units. Prepare a simple budgeted income statement if 18,000 units are sold. < Req 1 and 2 Flexible Budget for: Units Sales Unit Sales of of 14,000 16,000 0 $ Req 3 > The company's business conditions are improving. One possible result is a sales volume of 18,000 units. Prepare a simple budgeted income statement if 18,000 units are sold. 0 Req 3 > 0 $ 0 0 www
Transcribed Image Text:Required: 1&2. Prepare flexible budgets at sales volumes of 14,000 and 16,000 units. 3. The company's business conditions are improving. One possible result is a sales volume of 18,000 units. Prepare a simple budgeted income statement if 18,000 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 14,000 and 16,000 units. PHOENIX COMPANY Flexible Budgets For Year Ended December 31 Flexible Budget Variable costs Fixed costs Req 3 Req 1 and 2 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. Variable Amount Total Fixed per Unit Cost $ < Req 1 and 2 18,000 0 0.00 $ 1&2. Prepare flexible budgets at sales volumes of 14,000 and 16,000 units. 3. The company's business conditions are improving. One possible result is a sales volume of 18,000 units. Prepare a simple budgeted income statement if 18,000 units are sold. < Req 1 and 2 Flexible Budget for: Units Sales Unit Sales of of 14,000 16,000 0 $ Req 3 > The company's business conditions are improving. One possible result is a sales volume of 18,000 units. Prepare a simple budgeted income statement if 18,000 units are sold. 0 Req 3 > 0 $ 0 0 www
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Budgeting
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS