Phoenix Company's 2019 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. Sales Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line) PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2019 Utilities ($60,000 is variable) Plant management salaries Gross profit Selling expenses Packaging Shipping Sales salary (fixed annual amount) General and administrative expenses Advertising expense Salaries Entertainment expense Income from operations $ 930,000 210,000 45,000 315,000 180,000 210,000 1,890,000 1,260,000 90,000 105,000 235,000 $3,150,000 150,000 241,000 80,000 430,000 471,000 $ 359,000

Phoenix Company's 2019 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. Sales Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line) PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2019 Utilities ($60,000 is variable) Plant management salaries Gross profit Selling expenses Packaging Shipping Sales salary (fixed annual amount) General and administrative expenses Advertising expense Salaries Entertainment expense Income from operations $ 930,000 210,000 45,000 315,000 180,000 210,000 1,890,000 1,260,000 90,000 105,000 235,000 $3,150,000 150,000 241,000 80,000 430,000 471,000 $ 359,000

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter8: Budgeting

Section: Chapter Questions

Problem 6PA: Budgeted income statement and balance sheet As a preliminary to requesting budget estimates of...

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Required Information [The following information applies to the questions displayed below.] Phoenix Company's 2019 master budget Included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. Sales Cost of goods sold Direct materials Direct labor Gross profit Selling expenses Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line) Utilities ($45,000 is variable) Plant management salaries Packaging Shipping PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2019 Sales salary (fixed annual amount) General and administrative expenses Advertising expense Salaries Entertainment expense Income from operations Sales Variable costs Utilities PHOENIX COMPANY Flexible Budgets For Year Ended December 31, 2019 Flexible Budget Direct materials Direct labor Machinery repairs Depreciation-Plant equipment (straight-line) $ 960,000 240,000 Variable Amount per Unit 60,000 315,000 195,000 200,000 1,970,000 1,180,000…
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