A company's flexible budget for 12,000 units of production showed sales of $48,000, variable costs of $18,000, and fixed costs of $16,000. The operating income you would expect the company to earn if it produces and sells 16,000 units is: Select one: a. $14,000. b. $12,667. c. $24,000. d. $18,667. e. $2,667