g culver's recording studio rents studio time to musicians in 2-hour blocks. each session includes the use of the studio facilities, a digital recording of the performance, and a professional music producer/mixer. anticipated annual volume is 1,290 sessions. The company has invested $2,343,000 in the studio and expects a return on investment (ROI) of 22%. Budgeted costs for the coming year are as follows. Per Session TotalDirect materials (CDs, etc.) $ 19.80 Direct labor $407.00 Variable overhead $ 55.00 Fixed overhead $1,033,320 Variable selling and administrative expenses $ 35.00 Fixed selling and administrative expenses $542,820