Phoenix Company's 2019 master buget included the following fixed budget report. It is based on 20. an expected production and sales Volume of 15,000 units. 000, aip 2100970m to yowal t PHOENIX COMPANY Fixed Budget Reportinhon For year ending Dec 31,2019 915,000 210.000 45,000 300.000 210.000 210.000 90.000 105.000 235,000 150.000 230.000 Sales COGS direct materials direct labor machinery repairs (variable) depreciation Plant equip. Utilities ($45,000 is variable) Plant management salaries Gross Profit Selling Expenses Packaging Shipping Sales salary(fufifual amounts General admin expenses advertising expense Salaries entertainment Income from operations 800 80.000 3.000.000 1890.000 1.110,000 430,000 4600.000 220.000 The company's business conditions are improving one possible result Is a sales volume of 18.000 units. The company president is confident that this volume is within the relevant range of existing capacity. How much would operating income increase over the budgeted amount of $220.000. If this level is reached Without increasing capacity? PHOENIX COMPANY Forecasted contribution margin income statement For year ended Dec 31, 2019 Sales (in units) 15,000 18,000 Contribution margin (per unit) Contribution margin. Fixed cost operating income An unfavorable change in business is remotely possible; in this case, Production and sales volume for the year could fall to 12,000 units. How much income (or loss) from Operations Would occur if sales Volume falls to this level? (enter any loss with minus sign) PHOENIX COMPANY Forecasted contribution margin income statement For year ended Dec 31,2019 15,000 Sales Contribution margin (perunit)) 12.000 Contribution margin. Fixed cost Operating income