Last year, Mason Enterprises earned an operating income of $30,500 with a contribution margin ratio of 0.30. The actual revenue was $215,000. Calculate the total fixed cost.
Last year, Mason Enterprises earned an operating income of $30,500 with a contribution margin ratio of 0.30. The actual revenue was $215,000. Calculate the total fixed cost.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Not use chart gpt please solve this question general accounting
Transcribed Image Text:Last year, Mason Enterprises earned an operating income of $30,500
with a contribution margin ratio of 0.30. The actual revenue was
$215,000.
Calculate the total fixed cost.
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