# Phoenix Company's 2017 master budget included the following fixed budget report. It is based on an...

###### Question:

Phoenix Company's 2017 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. $3,300,000 PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2017 Sales Cost of goods sold Direct materials$930,000 Direct labor 210,000 Machinery repairs (variable cost) 45,000 Depreciation-Plant equipment (straight-line) 300,000 Utilities ($30,000 is variable) 195,000 Plant management malaries 180,000 Gross profit Selling expenses Packaging 90,000 Shipping 105,000 Sales salary (fixed annual amount) 235,000 General and administrative expenses Advertising expense 125,000 Salaries 241,000 Entertainment expense 85,000 Income from operations 1,860,000 1, 440,000 430,000 451,000 559,000 Required: 1&2. Prepare flexible budgets for the company at sales volumes of 14,000 and 16,000 units and classify all items listed in the fixed budget as variable or fixed. PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2017 Flexible Budget Variable Amount Total Fixed Cost$ 220.00 per Unit Flexible Budget for: Units Sales Unit Sales of of 14,000 16,000 $3,080,000f$ 3,520,000 Sales Variable costs Direct materials Direct labor Machinery repairs Utilities Packaging 62.00 14.00 3.00 2.00 6.00 868,000 196.000 42,000 28,000 84,000 992,000 224,000 48,000 32,000 96,000
I Required information 6.00 Packaging Shipping 84,000 98,000 7.00 96,000 112,000 94.00 126.00 Total variable costs Contribution margin Fixed costs Depreciation-Plant equipment (straight-line) 1,316,000 1,764,000 $1,504,000 2,016,000 180,000 Sales salary Advertising expense 180,000 235,000 180,000 235,000 235,000 241,000 241,000 Entertainment expense 241,000 85.000 85,000 85,000$ Total fixed costs Income from operations 741,000 $741,000$ 741,000

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