3.33 / 25 View Policies Show Attempt History Current Attempt in Progress Cullumber Corporation sells a single product for $40. Its management estimates the following revenues and costs for the year 2023 Net sales $530,000 Selling expenses-variable $21,200 Direct materials 95,400 Selling expenses-fixed 21,200 Direct labour 63,600 Administrative expenses-variable 10.600 Manufacturing overhead-variable 21.200 Administrative expenses-fixed 10.600 Manufacturing overhead-fixed 31,800 (a) Your answer is incorrect. Determine the percentage increase in annual operating income if Cullumber Corporation increases its selling price by 16% and all other factors (including demand) remain constant. (Round answer to 2 decimal places, eg. 15.25%.) Percent increase in profit % e Textbook and Media Save for Later Attempts: 1 of 4 used Submit