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Question(s) / Instruction(s):

A manufacturer of cedar shingles has supplied the following data:

  Bundles of cedar shakes produced and sold                                                     b   271,000 

  Sales revenue                                                                                                                     $2,195,100 

  Variable expense:                         

  Variable manufacturing expense                                     $984,200               

  Variable selling and administrative expense                      262,300                     1,246,500 

  Contribution margin                                                                                                                             948,600 

  Fixed expense:                               

  Fixed manufacturing expense                                          495,000                  

  Fixed selling and administrative expense                          285,000                                 780,000 

  Net operating income                                                                                                                          $168,600 

The companys contribution margin ratio is closest to:

a)            35%

b)            57%

c)            43%

d)            65%

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