A firm operated at 80% of capacity for the past year, during which fixed costs were $330,000,

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A firm operated at 80% of capacity for the past year, during which fixed costs were $330,000, variable costs were 70% of sales, and sales were $1,000,000. Operating profit was:
a. $140,000
b. ($30,000)
c. $370,000
d. $670,000

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Financial Accounting an introduction to concepts, methods and uses

ISBN: 978-0324789003

13th Edition

Authors: Clyde P. Stickney, Roman L. Weil, Katherine Schipper, Jennifer Francis

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Question Posted: Jan 10, 2018 01:14 AM

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A firm operated at 80% of capacity for the past year, during which fixed costs were $330,000,

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Financial Accounting an introduction to concepts, methods and uses

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