Question
For its most fiscal year, a firm reported that its contribution margin was equal to 40 percent of sales and that its net income amounted
For its most fiscal year, a firm reported that its contribution margin was equal to 40 percent of sales and that its net income amounted to 10 percent of sales. If fixed costs for the year were P60,000, what is the amount of sales?
A. P150,000 B. P200,000 C. P600,000 D. P250,000
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Cornerstones of Financial and Managerial Accounting
Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen
2nd edition
978-1111879044
