Please do not give solution in image format thanku Required information[The following information applies to the questions displayed below.]Phoenix Company's 2019 master budget included the following fixed budget report. It is based on an expected productionand sales volume of 15,000 units.SalesCost of goods soldDirect materialsDirect laborMachinery repairs (variable cost)Depreciation-Plant equipment (straight-line)Utilities ($45,000 is variable)Plant management salariesGross profitSelling expensesPHOENIX COMPANYFixed Budget ReportFor Year Ended December 31, 2019PackagingShippingSales salary (fixed annual amount)General and administrative expensesAdvertising expenseSalariesEntertainment expenseIncome from operations$ 960,000225,00045,000315,000180,000200,00075,00090,000235,000125,000230,00085,000$3,300,0001,925,0001,375,000400,000440,000$ 535,000Required:1&2. Prepare flexible budgets for the company at sales volumes of 14,000 and 16,000 units and classify all items listed in the fixedbudget as variable or fixed.

A corporation can better manage its finances and adapt its spending to take into account changes in…

Required information [The following information applies to the questions displayed below.] Phoenix Company's 2019 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. Sales Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line) PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2019 Utilities ($45,000 is variable) Plant management salaries Gross profit Selling expenses Packaging Shipping Sales salary (fixed annual amount) General and administrative expenses Advertising expense. Salaries Entertainment expense Income from operations $ 960,000 225,000 45,000 315,000 180,000 200,000 75,000 90,000 235,000 125,000 230,000 85,000 $3,300,000 1,925,000 1,375,000 400,000 440,000 $ 535,000 Required: 1&2. Prepare flexible budgets for the company at sales volumes of 14,000 and 16,000 units and classify all items listed in the fixed budget as variable or fixed.

Required information [The following information applies to the questions displayed below.] Phoenix Company's 2019 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. Sales Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line) PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2019 Utilities ($45,000 is variable) Plant management salaries Gross profit Selling expenses Packaging Shipping Sales salary (fixed annual amount) General and administrative expenses Advertising expense. Salaries Entertainment expense Income from operations $ 960,000 225,000 45,000 315,000 180,000 200,000 75,000 90,000 235,000 125,000 230,000 85,000 $3,300,000 1,925,000 1,375,000 400,000 440,000 $ 535,000 Required: 1&2. Prepare flexible budgets for the company at sales volumes of 14,000 and 16,000 units and classify all items listed in the fixed budget as variable or fixed.

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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