Question
3-3 Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000 units (the relevant range of production is 500
3-3
Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000 units (the relevant range of production is 500 units to 1,500 units):
| Sales | $ | 80,000 |
| Variable expenses | 52,000 | |
| Contribution margin | 28,000 | |
| Fixed expenses | 21,840 | |
| Net operating income | $ | 6,160 |
What is the variable expense ratio?
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Internal Auditing Assurance & Consulting Services
Authors: Kurt F Reading, Paul J Sobel, Urton L Anderson, Michael J Head, Sri Ramamoorti
1st Edition
0894136100, 9780894136108
