Phoenix Company's 2015 moster budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2015 3,150,000 Sales Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation-plont equipment (straight-line Utilities ($30,000 is variable) Plant management salaries S 960,000 210,000 60,000 300,000 180,000 210,000 1,920,000 Gross profit Selling expenses 1,230,000 75,000 105,000 235,000 Sales salary (fioxed annual amount 415,000 General and odministrative expenses Advertising expense Solories 125,000 241,000 75,000 441,000 Income from operations $ 374,000