Phoenlx Company's 2013 master budget Included the following fixed budget report. It Is based on an expected production and sales volume of 15,000 units. PHOENIX COMPANY Flxed Budget Report For Year Ended December 31, 2013 $ 3.150,000 Sales Cost of goods sold $ 915,000 Direct materlals Direct labor Machlnery repalrs (variable cost) Depreclation-plant equipment Utilities ($45,000 Is varlable) Plant management salaries 210,000 60,000 300,000 195,000 80,000 1860,000 Gross profit Selling expenses 1,290,000 Packaging Shipping Sales salary (fixed annual amount) 75,000 105,000 235,000 415,000 General and administrative expenses Advertising expense Salarles Entertalnment expense 150,000 230,000 85,000 465,000 Income from operations $ 410,000