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Assume the following: 1. variable expenses = $294,000 2. unit sales = 10,000 3. the contribution margin ratio = 30% 4. net operating income = $10,000 Given these four assumptions, which of the following is true? Multiple Choice The total fixed expenses = $88,200 The variable expense ratio is 233% O The total contribution margin = $205,800 The total sales = $420,000

Assume the following: 1. variable expenses = $294,000 2. unit sales = 10,000 3. the contribution margin ratio = 30% 4. net operating income = $10,000 Given these four assumptions, which of the following is true? Multiple Choice The total fixed expenses = $88,200 The variable expense ratio is 233% O The total contribution margin = $205,800 The total sales = $420,000

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 = $294,000 2. unit sales = 10,000 3. the contribution margin ratio = 30% 4. net operating income = $10,000 Given these four assumptions, which of the following is true? Multiple Choice O о The total fixed expenses = $88,200 The variable expense ratio is 233% The total contribution margin = $205,800 The total sales = $420,000
Transcribed Image Text:Assume the following: 1. variable expenses = $294,000 2. unit sales = 10,000 3. the contribution margin ratio = 30% 4. net operating income = $10,000 Given these four assumptions, which of the following is true? Multiple Choice O о The total fixed expenses = $88,200 The variable expense ratio is 233% The total contribution margin = $205,800 The total sales = $420,000
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