[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 15,500 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 $ 3,255,000 1,007,500 217,000 62,000 305,000 199,000 232,500 251,000 622,250 196,000 $ 162,750 Required: &2. Prepare flexible budgets at sales volumes of 14,500 and 16,500 units. . The company's business conditions are improving. One possible result is a sales volume of 18,500 units. Prepare a simple budgeted come statement if 18 500 units are sold
[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 15,500 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 $ 3,255,000 1,007,500 217,000 62,000 305,000 199,000 232,500 251,000 622,250 196,000 $ 162,750 Required: &2. Prepare flexible budgets at sales volumes of 14,500 and 16,500 units. . The company's business conditions are improving. One possible result is a sales volume of 18,500 units. Prepare a simple budgeted come statement if 18 500 units are sold
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Concept explainers
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
Question
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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 15,500
units.
Sales
Costs.
Direct materials
Direct labor
Sales staff commissions
Depreciation-Machinery
Supervisory salaries.
Shipping
Sales staff salaries (fixed annual amount)
Administrative salaries
Depreciation-Office equipment
Income
PHOENIX COMPANY
Fixed Budget
For Year Ended December 311
Req 1 and 2
$3,255,000
1,007,500
217,000
62,000
305,000
199,000
232,500
251,000
Required:
1&2. Prepare flexible budgets at sales volumes of 14,500 and 16,500 units.
3. The company's business conditions are improving. One possible result is a sales volume of 18,500 units. Prepare a simple budgeted
income statement if 18,500 units are sold.
Req 3
Complete this question by entering your answers in the tabs below.
622,250
196,000
$ 162,750
Prepare flexible budgets at sales volumes of 14,500 and 16,500 units.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1a7c8996-9db7-43b9-981a-42bf2189f9e1%2Feb581a08-ead3-4ba3-91bb-dc9b616b13ac%2Fumclaxe_processed.jpeg&w=3840&q=75)
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 15,500
units.
Sales
Costs.
Direct materials
Direct labor
Sales staff commissions
Depreciation-Machinery
Supervisory salaries.
Shipping
Sales staff salaries (fixed annual amount)
Administrative salaries
Depreciation-Office equipment
Income
PHOENIX COMPANY
Fixed Budget
For Year Ended December 311
Req 1 and 2
$3,255,000
1,007,500
217,000
62,000
305,000
199,000
232,500
251,000
Required:
1&2. Prepare flexible budgets at sales volumes of 14,500 and 16,500 units.
3. The company's business conditions are improving. One possible result is a sales volume of 18,500 units. Prepare a simple budgeted
income statement if 18,500 units are sold.
Req 3
Complete this question by entering your answers in the tabs below.
622,250
196,000
$ 162,750
Prepare flexible budgets at sales volumes of 14,500 and 16,500 units.
Transcribed Image Text:Required information
Req 1 and 2
Prepare flexible budgets at sales volumes of 14,500 and 16,500 units.
PHOENIX COMPANY
Flexible Budgets
For Year Ended December 31
Flexible Budget
Variable costs
Fixed costs
Req 3
Required information
income statement if 18,500 units are sold.
Req 1 and 2
Req 3
PHOENIX COMPANY
Sales (in units)
I 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
18,500
0
0.00
$
< Prev
< Req 1 and 2
Flexible Budget for:
Units Sales Unit Sales of
of 14,500 16,500
0 $
The company's business conditions are improving. One possible result is a sales volume of 18,500 units. Prepare a simple
budgeted income statement if 18,500 units are sold.
4 5 of 5
0
Req3 >
0 $
0
0
Next >
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