Please do not give solution in image format thanku Problem 8-1A (Algo) Preparing and analyzing a flexible budget LO P1Required:182. Prepare flexible budgets at sales volumes of 14,400 and 16,400 units.3. The company's business conditions are improving. One possible result is a sales volume of 18,400 units. Prepare a simple budgetedincome statement if 18,400 units are sold.Complete this question by entering your answers in the tabs below.Req 1 and 2Req 3The company's business conditions are improving. One possible result is a sales volume of 18,400 units. Prepare a simplebudgeted income statement if 18,400 units are sold.PHOENIX COMPANYBudgeted Income StatementFor Year Ended December 31Sales (in units)18,4000Reg 1 and 20032 Required informationUse the following information for the Problems below. (Algo)[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 15,400units.SalesCostsPHOENIX COMPANYFixed BudgetFor Year Ended December 31Direct materials.Direct laborSales staff commissionsDepreciation-Machinery:Supervisory salariesShippingSales staff salaries (fixed annual amount)Administrative salariesDepreciation-office equipmentIncome$ 3,234,0001,001,000246,40077,000295,000200,000231,000254,000570,900197,000$ 161,700

The flexible budget is prepared to compare the actual and standard production costs data. The net…

Required information Use the following information for the Problems below. (Algo) [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 15,400 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. $ 3,234,000 1,001,000 246,400 77,000 295,000 200,000 231,000 254,000 570,900 197,000 $ 161,700

Required information Use the following information for the Problems below. (Algo) [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 15,400 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. $ 3,234,000 1,001,000 246,400 77,000 295,000 200,000 231,000 254,000 570,900 197,000 $ 161,700

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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