Phoenix Company reports the following fixed budget. It is based on an expected production and sales volume of 15,300 units. PHOENIX COMPANY Fixed Budget For Year Ended December 31 Sales $ 3,060,000 Costs Direct materials 994,500 Direct labor 229,500 Sales staff commissions 76,500 DepreciationMachinery 305,000 Supervisory salaries 201,000 Shipping 229,500 Sales staff salaries (fixed annual amount) 248,000 Administrative salaries 431,000 DepreciationOffice equipment 192,000 Income $ 153,000 Problem 8-1A