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Assume the following (1) variable expenses = $299,000, (2) unit sales = 10,000, (3) the contribution margin ratio = 35%, and (4) net operating income = $10,000. Given these four assumptions, which of the following is true? Multiple Choice 1) The total contribution margin = $194,350 2) The total sales = $460,000 3) The total fixed expenses = $104,650 4) The variable expense ratio is 186%

Assume the following (1) variable expenses = $299,000, (2) unit sales = 10,000, (3) the contribution margin ratio = 35%, and (4) net operating income = $10,000. Given these four assumptions, which of the following is true? Multiple Choice 1) The total contribution margin = $194,350 2) The total sales = $460,000 3) The total fixed expenses = $104,650 4) The variable expense ratio is 186%

FINANCIAL ACCOUNTING
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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Assume the following (1) variable expenses = $299,000, (2) unit sales = 10,000, (3) the contribution margin ratio = 35%, and (4) net operating income = $10,000. Given these four assumptions, which of the following is true? Multiple Choice 1) The total contribution margin = $194,350 2) The total sales = $460,000 3) The total fixed expenses = $104,650 4) The variable expense ratio is 186%
Transcribed Image Text:Assume the following (1) variable expenses = $299,000, (2) unit sales = 10,000, (3) the contribution margin ratio = 35%, and (4) net operating income = $10,000. Given these four assumptions, which of the following is true? Multiple Choice 1) The total contribution margin = $194,350 2) The total sales = $460,000 3) The total fixed expenses = $104,650 4) The variable expense ratio is 186%
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