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. PHOENIX COMPANY Budgeted Income Statement For Year Ended December 31 Sales (in units) sales volumes of 14,000 and 16,000 units. PHOENIX COMPANY Flexible Budgets For Year Ended December 31 Flexible Budget Variable Amount Total Fixed per Unit Cost 18,000 Flexible Budget for: Units Sales Unit Sales of of 14,000 16,000 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 sai 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 $ 3,000,000 990,000 225,000 60,000 305,000 201,000 225,000 250,000 395,000 199,000 $ 150,000
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. PHOENIX COMPANY Budgeted Income Statement For Year Ended December 31 Sales (in units) sales volumes of 14,000 and 16,000 units. PHOENIX COMPANY Flexible Budgets For Year Ended December 31 Flexible Budget Variable Amount Total Fixed per Unit Cost 18,000 Flexible Budget for: Units Sales Unit Sales of of 14,000 16,000 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 sai 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 $ 3,000,000 990,000 225,000 60,000 305,000 201,000 225,000 250,000 395,000 199,000 $ 150,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please do not give solution in image format ?
![Variable costs
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.
Prepare flexible budgets at sales volumes of 14,000 and 16,000 units.
Fixed costs
PHOENIX COMPANY
Budgeted Income Statement
For Year Ended December 31
Sales (in units)
PHOENIX COMPANY
Flexible Budgets
For Year Ended December 31
Flexible Budget
Variable Amount Total Fixed
per Unit
Cost
18,000
Flexible Budget for:
Units Sales Unit Sales of
of 14,000
16,000
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 15,000
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
990,000
225,000
60,000
305,000
201,000
225,000
250,000
395,000
199,000
$ 150,000
Problem 8-1A (Algo) Preparing and analyzing a flexible budget LO P1
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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F970bd1a5-ec8e-4093-8db1-5fe4658a27aa%2Ff628a878-4414-447b-9d30-7d2a2d664d89%2Flbs2z2_processed.png&w=3840&q=75)
Transcribed Image Text:Variable costs
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.
Prepare flexible budgets at sales volumes of 14,000 and 16,000 units.
Fixed costs
PHOENIX COMPANY
Budgeted Income Statement
For Year Ended December 31
Sales (in units)
PHOENIX COMPANY
Flexible Budgets
For Year Ended December 31
Flexible Budget
Variable Amount Total Fixed
per Unit
Cost
18,000
Flexible Budget for:
Units Sales Unit Sales of
of 14,000
16,000
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 15,000
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
990,000
225,000
60,000
305,000
201,000
225,000
250,000
395,000
199,000
$ 150,000
Problem 8-1A (Algo) Preparing and analyzing a flexible budget LO P1
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.
![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 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 15,000 units. Prepare flexible budgets at sales volumes of 14,000 and
16,000 units. Problem 8 - 1A (Algo) Preparing and analyzing a flexible budget LO P1 Required: Prepare
flexible budgets at sales volumes of 14,000 and 16,000 units. 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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F970bd1a5-ec8e-4093-8db1-5fe4658a27aa%2Ff628a878-4414-447b-9d30-7d2a2d664d89%2F1rltgh_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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 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 15,000 units. Prepare flexible budgets at sales volumes of 14,000 and
16,000 units. Problem 8 - 1A (Algo) Preparing and analyzing a flexible budget LO P1 Required: Prepare
flexible budgets at sales volumes of 14,000 and 16,000 units. 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.
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