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Last year, Oakwood Corporation earned an operating income of $18,500 with a contribution margin ratio of 0.30. Actual revenue was $210,000. Calculate the total fixed cost. Round your answer to the nearest dollar, if required.

Last year, Oakwood Corporation earned an operating income of $18,500 with a contribution margin ratio of 0.30. Actual revenue was $210,000. Calculate the total fixed cost. Round your answer to the nearest dollar, if required.

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter9: Responsibility Accounting And Decentralization
Section: Chapter Questions
Problem 8EA: Using the information in the previous exercises about Marleys Manufacturing, determine the operating...
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Last year, Oakwood Corporation earned an operating income of $18,500 with a contribution margin ratio of 0.30. Actual revenue was $210,000. Calculate the total fixed cost. Round your answer to the nearest dollar, if required.
Transcribed Image Text:Last year, Oakwood Corporation earned an operating income of $18,500 with a contribution margin ratio of 0.30. Actual revenue was $210,000. Calculate the total fixed cost. Round your answer to the nearest dollar, if required.
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