A business operated at 100% of capacity during its first month, with the following results: Sales (96 units) $480,000 Production costs (120 units): Direct materials Direct labor Variable factory overhead Fixed factory overhead Operating expenses: Variable operating expenses Fixed operating expenses $60,000 15,000 27,000 24,000 $6,090 3,730 $126,000 9,820 The amount of contribution margin that would be reported on the variable costing income statement is Oa. $388,580 Ob. $470,180 Oc. $392,310 Od. $479,880

A business operated at 100% of capacity during its first month, with the following results: Sales (96 units) $480,000 Production costs (120 units): Direct materials Direct labor Variable factory overhead Fixed factory overhead Operating expenses: Variable operating expenses Fixed operating expenses $60,000 15,000 27,000 24,000 $6,090 3,730 $126,000 9,820 The amount of contribution margin that would be reported on the variable costing income statement is Oa. $388,580 Ob. $470,180 Oc. $392,310 Od. $479,880

Name: A business operated at 100% of capacity during its first month, with
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Description: A business operated at 100% of capacity during its first month, with the following results:Sales (96 units)$480,000Production costs (120 units):Direct materialsDirect laborVariable factory overheadFixed factory overheadOperating expenses:Variable op

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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