If a foxed asset, such as a computer, were purchased on January 1st for $1,605 with an estimated life of 6 years and a salvage or residual value of $118, the journal entry for monthly expense under straight-line depreciation is Oo. Depreciation Expense 247.83 Accumulated Depreciation 247.83 Ob. Accumulated Depreciation 247.83 Depreciation Expense 247.83 Oe. Depreciation Expense 20.65 Accumulated Depreciation 20.65 Od. Accumulated Depreciation 20.65 Depreciation Expense 20.65 If sales are $806,000, variable costs are 80% of sales, and operating Income is $231,000, what is the contribution margin ratio? O.. 80% Ob. 76% Oc. 20% Od. 24% Previous A firm operated at 80% of capacity for the past year, during which fixed costs were $203,000, variable costs were 68% of sales, and sales were 5907,000. Operating profit was Oa. $27,240 Ob. 5616,760 O. 5290,240 Od. 569,792 Previous Next Variable costs as a percentage of sales for Lemon Inc. are 64%, current sales are $618,000, and fixed costs are $181,000. How much will operating Income change it sales increase by $45,6007 Oa. 529,1M de Ob. 516,416 decrease Oc. 316,416 increase Od. 529,184 increase