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Required information [The following information applies to the questions displayed below.] Astro...

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Accounting

Required information
[The following information applies to the questions displayed below.]
Astro Company sold 20,000 units of its only product and reported income of $25,000 for the current year. During a planning session for next year's activities, the production manager notes that variable costs can be reduced 40% by installing a machine that automates several operations. To obtain these savings, the company must increase its annual fixed costs by $241,000. The selling price per unit will not change.
\table[[\table[[Contribution Margin Income Statement],[For Year Ended December 31]]],[Sales ( $50 per unit),$1,000,000
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