Phoenix Company's 2017 master budget included the following fixed budget report. It is ba volume of 15,000 units. $3,375,000 k ces PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2017 Sales Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line) Utilities ($30,800 is variable) Plant management Salories Gross profit Selling expenses Packaging Shipping Sales salary (fixed annual amount) General and administrative expenses Advertising expense Salaries Entertainment expense Income from operations $ 975,000 225,000 45,000 330,000 190, eee 215,000 1,980,000 1,395,00 60,000 90,000 260, een 410,000 131,000 251,800 100.000 482.ee 503,000 $ Phoenix Company's actual income statement for 2017 follows. s Total variable costs 0 1.680.000 Book Fixed costs Depreciation Plant equipment (straight-line) Utilities Plant management salaries Sales salary Advertising expense Salaries Entertainment expense Print Total fixed costs Income from operations