Question
Last period, I Know What Im Here For, Ltd. sold 8,000 bicycles at a price of $350 each. Fixed costs for the period were $505,000
Last period, I Know What Im Here For, Ltd. sold 8,000 bicycles at a price of $350 each. Fixed costs for the period were $505,000 and net income (assume $0 taxes) was $272,000. What was the amount of variable costs that the firm would have reported in its contribution margin income statement last period?
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Accounting Tools For Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
6th Edition
111919167X, 9781119191674
