Happy Toes produces sports socks. The company has fred expenses of $110,000 and variable expenses of $1,10 per package. Each package sells for $2.20. The number of packages Happy Toes needed to sell to earn a $29,000 operating income was 126,364 packages (rounded). If Happy Toes can docrease its variabie costs to $1.00 por package by increasing its fixed costs to $125,000, how many packages will it have to sell to generate $29,000 of operaling income? is this more or loss than before? Why? Begin by identifying the formula to compute the sales in units at various levels of operating income using the contritution margin approach