Assume that The fixed monthly expenses do not change? Gayne Corporation's contribution margin ratio is 12% and itsfixed monthly expenses are $84,000. If the company's salesfor a month are $738,000, what is the best estimate of thecompany's net operating income? Assume that the fixedmonthly expenses do not change.A) $565,440B) $654,000C) $88,560D) $4,560

Step 1: Define Net IncomeNet income is the amount left after all expenses were taken into…

Answered: Gayne Corporation's contribution margin…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter3: Cost-volume-profit Analysis

Section: Chapter Questions

Problem 23MC: If a firm has a contribution margin of $78M90 and a net income of $13,700 for the current month,...

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