Exercise 22-6 (Part Level Submission) Alma's Recording Studio rents studio time to musicians in 2-hour blocks. Each session includes the use of the studio facilities, a digital recording of the performance, and a professional music producer/mixer. Anticipated annual volume is 1,200 sessions. The company has invested $2,353,900 in the studio and expects a return on investment (ROI) of 20%. Budgeted costs for the coming year are as follows. Per Session $ 20.04 404.40 s 51.34 Total Direct materials (tapes, CDs, etc) Direct labor Variable overhead Fixed overhead Variable selling and administrative expenses Fixed selling and administrative expenses $ 1,142,928 42.33 $ 602,904