College Spirit Calendars imprints calendars With college names The company has fixed expenses of $1 ,095,000 each month plus variable expenses of $6 50 per carton of calendars Of the variable expense, 71% is cost of goods sold, while the remaining 29% relates to vanabte operating expenses The company sells each carton of calendars for $16 50 Read the gluiremenls - .' Requirement 5. By what percentage Wlll operating Income change if July's sales volume IS 12% higher? Prove your answer (Round the percentage to two decrmat places ) tt volume Increases 12% then operating income wall increase \\:l % l} Prove your answer (Round the percentage to two decimal places ) Original volume (cartons) Add Increase in volume New volume (cartons) Multiplied by Unit contribution margin New total contribution margin Less Fixed expenses New operating income vs Operating income before change in volume lncrease in operating income WW ll 1W % v Percentage change