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

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Flexible Budget of 14,000 of 16.000 المه PHOENIX COMPANY Fixed Budget Report For the year ended December 31, 2017 Flexible Budget for. Variable Ant. Total fixed Unit Sales Unit Sales per unit costs Sales 220.00 $ 30,80,000 $35, 20,000 Variable cosidi- 8 68,000 62.00 9,92000 Direcer Materials 1, 96,000 14.00 2,24,000 Direct Labor 42,000 3.00 48,000 Machine Repairs 28,000 32,000 utilities 2.00 96,000 84. Ovo 6.00 Packaging 7.00 98,000 1,12000 Shipping 13, 16,000 94.00 15.04,000 Total Variable costo 17,64,000 20.16,000 Contribution Margir $ 126.00 fixed costs :- 3,00,000 3,00,000 3,00,000 Depn. Plant Equipment 1,65,000 ubranes 1, 65,000 1,65,000 1.80,000 \, 80, 000 1,80,000 Plant Mge. 2, 35,000 235,000 2, 35,000 Sales salary 1,25,000 125.000 1,25,000 Advertising 241,000 2,41,000 2 41,000 Salaries 85,000 85,000 85,000 Entertainment expense 113, 31,000 13, 31,000 13, 31,000 Total fixed cost Income from 4,33000 6,85,000 Salaries operations