Bonita Industries requires sales of $1500000 to cover its fixed costs of $800000 and to earn net income of $400000. Whatpercentage is its variable costs of sales?53%80%20%O 27%

Income statement is a financial statement that shows profitability, total revenue and total…

Answered: Bonita Industries requires sales of…

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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Bonita Industries requires sales of $1500000 to cover its fixed costs of $800000 and to earn net income of $400000. What percentage is its variable costs of sales? O 53% O 80% O 20% O 27%