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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                                                     $249,000 

  Sales revenue                                                                                                                $2,016,900 

  Variable  expense:                        

  Variable manufacturing expense                                            $973,900               

  Variable selling and administrative expense                      $258,900              $1,232,800 

  Contribution margin                                                                                                    $784,100 

  Fixed  expense:                              

  Fixed manufacturing expense                                                  $483,000               

  Fixed selling and administrative expense                            $271,000              $754,000 

  Net operating income                                                                                                 $30,100 

The companys contribution margin ratio is closest to:

a)            39%

b)            69%

c)            31%

d)            61%

 

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