Required information The following information applies to the questions displayed below.] Phoenix Company's 2017 master budget included the following fixed budget report. Itis based on an expected production and sales volume of 15,000 units. PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2017 3,300,000 Sales Cost of goods sold 945,000 210,000 Direct materials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight-1ine) Utilities ($60,000 is variable) Plant management salaries 60,000 300,000 210,000 200,0001,925,000 1,375,000 Gross profit Selling expenses Packaging shipping Gales salary (fixed annual amount) 75,000 90,000 235,000400,000 General and adninistrative expenses 125,000 Advertiaing expense Salaries Entertainment expense 230,000 80,000 435,000 $ 540,000 Iricome from operations