Required information Use the following information for the Problems below. (Algo) [The following information applies to the questions displayed below] Phoenix Company reports the following fixed budget. It is based on an expected production and sales volume of 15,400 units. PHOENIX COMPANY Fixed Budget For Year Ended December 31 Sales Costs Direct materials Direct labor Sales staff commissions Depreciation-Machinery Supervisory salaries Shipping Sales staff salaries (fixed annual amount) Administrative salaries Depreciation-Office equipment Income $3,080,000 1,016,400 246,400 61,600 295,000 202,000 215,600 253,000 445,000 191,000 $ 154,000