Lindquist Company has the following information for February: Line Item Description Amount Sales $370,000 Variable cost of goods sold 173,900 Fixed manufacturing costs 55,500 Variable selling and administrative expenses 40,700 Fixed selling and administrative expenses 22,200 Determine the following for Lindquist Company for the month of February: Line Item Description Amount a. Manufacturing margin $fill in the blank 1 b. Contribution margin $fill in the blank 2 c. Operating income $fill in the blank 3
Lindquist Company has the following information for February: Line Item Description Amount Sales $370,000 Variable cost of goods sold 173,900 Fixed manufacturing costs 55,500 Variable selling and administrative expenses 40,700 Fixed selling and administrative expenses 22,200 Determine the following for Lindquist Company for the month of February: Line Item Description Amount a. Manufacturing margin $fill in the blank 1 b. Contribution margin $fill in the blank 2 c. Operating income $fill in the blank 3
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Lindquist Company has the following information for February:
| Line Item Description | Amount |
|---|---|
| Sales | $370,000 |
| Variable cost of goods sold | 173,900 |
| Fixed |
55,500 |
| Variable selling and administrative expenses | 40,700 |
| Fixed selling and administrative expenses | 22,200 |
Determine the following for Lindquist Company for the month of February:
| Line Item Description | Amount |
|---|---|
| a. Manufacturing margin | $fill in the blank 1 |
| b. Contribution margin | $fill in the blank 2 |
| c. Operating income |
$fill in the blank 3 |
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