Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Lake Sales had $2,000,000 in sales last month. The contribution margin ratio was 40% and operating profits were $150,000. What sales volume does Lake's need

Lake Sales had $2,000,000 in sales last month. The contribution margin ratio was 40% and operating profits were $150,000. What sales volume does Lake's need to yield a $325,000 operating profit?

$375,000.

$1,850,000.

$2,437,500.

$2,325,000.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing

Authors: David Ricchiute

8th Edition

0324226292, 978-0324226294

More Books

Students also viewed these Accounting questions