Loega Plc Ltd. sells rocks in Utah. They have supplied the following data: • Units sold: 3,296 • Sales revenue: $4,511,592 • Variable manufacturing expense: $2,164,549 • Fixed manufacturing expense: $1,205,943 • Variable selling and administrative expense: $435,645 • Fixed selling and administrative expense: $300,051 ⚫ Net operating income: $405,404 Loega's contribution margin ratio is closest to: Select one: O A. 42.4% O B. 9.0% OC. 25.3% O D. 83.7% O E. 66.6% 13
Loega Plc Ltd. sells rocks in Utah. They have supplied the following data: • Units sold: 3,296 • Sales revenue: $4,511,592 • Variable manufacturing expense: $2,164,549 • Fixed manufacturing expense: $1,205,943 • Variable selling and administrative expense: $435,645 • Fixed selling and administrative expense: $300,051 ⚫ Net operating income: $405,404 Loega's contribution margin ratio is closest to: Select one: O A. 42.4% O B. 9.0% OC. 25.3% O D. 83.7% O E. 66.6% 13
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question

Transcribed Image Text:Loega Plc Ltd. sells rocks in Utah. They have supplied the following data:
• Units sold: 3,296
• Sales revenue: $4,511,592
• Variable manufacturing expense: $2,164,549
• Fixed manufacturing expense: $1,205,943
• Variable selling and administrative expense: $435,645
• Fixed selling and administrative expense: $300,051
⚫ Net operating income: $405,404
Loega's contribution margin ratio is closest to:
Select one:
O A. 42.4%
O B. 9.0%
OC. 25.3%
O D. 83.7%
O E. 66.6%
13
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps

Recommended textbooks for you


Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,

Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,


Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,

Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON

Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education

Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education