Super Toys Corporation manufactures small toy sets for children at Christmas time. The company currently manufactures and sells three models: Standard, Comfortable, and Deluxe. For the 2021 financial year, the budgeted average selling price per set was: $30 for the standard set, $45 for the comfortable set, and $60 for the deluxe set. The standard material cost per set consists of four-square feet of plastic at a purchased price of $3 per square foot. The standard labor cost per set consists of 1.2 labor hour at a rate of $10 per labor hour. The fixed costs for both manufacturing and selling & administrative activities were budgeted at $527 000. For the 2021 financial year, the budgeted sales were 30 000 standard sets, 18 000 comfortable sets, and 12 000 deluxe sets. Super Toys Corporation estimated to obtain 4% of the industry volume for the 2021 financial year.