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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 15,100 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 $ 3,171,000 981,500 241,600 60,400 295,000 197,000 226,500 245,000 573,450 192,000 $ 158,550 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. Complete this question by entering your answers in the tabs below.

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 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 $ 3,171,000 981,500 241,600 60,400 295,000 197,000 226,500 245,000 573,450 192,000 $ 158,550 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. Complete this question by entering your answers in the tabs below.

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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Req 1 and 2 Prepare flexible budgets at sales volumes of 14,100 and 16,100 units. Variable costs Req 3 Fixed costs PHOENIX COMPANY Flexible Budgets For Year Ended December 31 Flexible Budget Variable Amount Total Fixed per Unit Cost 0.00 $ 0 Flexible Budget for: Units Sales Unit Sales of of 14,100 16,100 $ Req 3 > 0 0 $ 0 0 E
Transcribed Image Text:Req 1 and 2 Prepare flexible budgets at sales volumes of 14,100 and 16,100 units. Variable costs Req 3 Fixed costs PHOENIX COMPANY Flexible Budgets For Year Ended December 31 Flexible Budget Variable Amount Total Fixed per Unit Cost 0.00 $ 0 Flexible Budget for: Units Sales Unit Sales of of 14,100 16,100 $ Req 3 > 0 0 $ 0 0 E
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 $ 3,171,000 981,500 241,600 60,400 Deg 3 295,000 197,000 226,500 245,000 573,450 192,000 $ 158,550 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. 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 15,100 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 $ 3,171,000 981,500 241,600 60,400 Deg 3 295,000 197,000 226,500 245,000 573,450 192,000 $ 158,550 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. Complete this question by entering your answers in the tabs below.
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