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A business operated at 100% of capacity during its first month, with the following results: Sales (90 units) $90,000 Production costs (100 units): Direct materials Direct labor Variable factory overhead Fixed factory overhead Operating expenses: Variable operating expenses Fixed operating expenses $40,000 20,000 2,000 7,000 a. $29,700 b. $34,200 O c. $26,200 Od. $20,200 $8,000 1,000 69,000 69,000 The amount of contribution margin that would be reported on the variable costing income statement is

A business operated at 100% of capacity during its first month, with the following results: Sales (90 units) $90,000 Production costs (100 units): Direct materials Direct labor Variable factory overhead Fixed factory overhead Operating expenses: Variable operating expenses Fixed operating expenses $40,000 20,000 2,000 7,000 a. $29,700 b. $34,200 O c. $26,200 Od. $20,200 $8,000 1,000 69,000 69,000 The amount of contribution margin that would be reported on the variable costing income statement is

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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A business operated at 100% of capacity during its first month, with the following results: Sales (90 units) $90,000 Production costs (100 units): Direct materials Direct labor Variable factory overhead Fixed factory overhead Operating expenses: Variable operating expenses Fixed operating expenses $40,000 20,000 2,000 7,000 a. $29,700 b. $34,200 c. $26,200 d. $20,200 $8,000 1,000 69,000 69,000 The amount of contribution margin that would be reported on the variable costing income statement is
Transcribed Image Text:A business operated at 100% of capacity during its first month, with the following results: Sales (90 units) $90,000 Production costs (100 units): Direct materials Direct labor Variable factory overhead Fixed factory overhead Operating expenses: Variable operating expenses Fixed operating expenses $40,000 20,000 2,000 7,000 a. $29,700 b. $34,200 c. $26,200 d. $20,200 $8,000 1,000 69,000 69,000 The amount of contribution margin that would be reported on the variable costing income statement is
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