Please provide answer the accounting question not use chatgpt Solen Corporation's break-even point in sales is $900,000, and itsvariable expenses are 75% of sales. If the company lost $40,000 lastyear, sales must have amounted to:a. $635,000b. $860,000c. $820,000d. $740,000

Step 1: c) First Calculate the Contribution margin ratio, Contribution margin ratio = 1 - Variable…

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Solen Corporation's break-even point in sales is $900,000, and its variable expenses are 75% of sales. If the company lost $40,000 last year, sales must have amounted to: a. $635,000 b. $860,000 c. $820,000 d. $740,000