Phoenix Company reports the following actual results. Actual sales were 18,300 units. Sales (18,300 units) $ 3,705,750 Costs $ 1,185,840 300,120 82,350 Direct materials Direct labor Sales staff commissions Depreciation Machinery Supervisory salaries Shipping Sales staff salaries (fixed annual amount) Administrative salaries Depreciation-Office equipment Income Required: Prepare a flexible budget performance report for the year. (Indicate the effect of each variance by selecting "Favorable" o "Unfavorable". Select "No variance" and enter "0" for zero variance.) For Year Ended December 31 Variable costs 300,000 210,000 266,265 271,000 440,000 197,000 453,175 Fixed costs ✔for zero variance.) PHOENIX COMPANY Flexible Budget Performance Report Flexible Budget (18,300 (18,300 units) units) Actual Results Variances ce by selecting "Favora Favorable/Unfavorable

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…

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…