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King Comics is a wholesaler of popular comic books. The companys records indicate the following financial results: Units Sold Current Year 50,000 Previous Year 40,000
King Comics is a wholesaler of popular comic books. The companys records indicate the following financial results:
Units Sold | Current Year 50,000 | Previous Year 40,000 | ||
Sales revenue | $250,000 | $200,000 | ||
Cost of goods sold | 175,500 | 140,000 | ||
Gross margin | 74,500 | 60,000 | ||
Operating expenses | 23,500 | 20,000 | ||
Net operating income | $51,000 | $40,000 |
Using the high-low method, what is the companys estimated variable and fixed component of operating expenses? (Round answer to 2 decimal places, e.g. 52.75.)
Variable component of operating expenses | $ | |
Fixed component of operating expenses | $
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