McGraw Hil Connect . × / M Chapter 21 c Deztornheducationcomhmtpx The foWowing i

Question

McGraw Hil Connect . × / M Chapter 21 c Deztornheducationcomhmtpx The foWowing imformation applies to the questions displayed below Phoenix Company's 2015 master budget included the following fxed budget report. l is based on an expected production and sales volume of 15,000 units PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2 $ 3,300,000 Sales Cost of goods sold $ 930000 25,000 45.000 equipment (straight-line) 315.000 210000 190000 Direct materials Direct labor Machinery repairs (vanable cost) Uslities (545,000 is variable) Plant management salaries 1915,000 1,385.000 Gross profit Seling expenses Packaging Shipping Sales salary (fixed annual amound 90.000 90.000 235.000 415,000 General and administrative expenses 150000 241000 471000 Advertising expense expense Income fros operations s 499000 075 points Required: 182 Prepare flexible budgets for the company at sales volumes of 14,000 and 16,000 units and classity all OType here to search

Explanation / Answer

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Variable Fixed 15000 18000 Sales 220 3300000 3960000 COGS Variable Cost Direct material 62 930000 1116000 Direct labor 15 225000 270000 Machinery repairs 3 45000 54000 Utilities 3 45000 54000 Packing 6 90000 108000 Shipping 6 90000 108000 Total variable costs 95 1425000 1710000 Contribution margin 125 1875000 2250000 Fixed Variables Depreciation-Plant Equipment 315000 315000 315000 Plant Management Salaries 190000 190000 190000 Sales Salary (Fixed annual amount) 235000 235000 235000 Utilities ($45,000 is variable) 165000 165000 165000 Advertising Expense 150000 150000 150000 Salaries 241000 241000 241000 Entertainment Expense 80000 80000 80000 Total Fixed Costs 1376000 1376000 1376000 Income fromm operaations 499000 874000

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