Question
Lorna Corporation has determined the contribution margin ratio is 35% and the income tax rate is 40%. A) Assume break-even volume in dollars is $1,500,000.
Lorna Corporation has determined the contribution margin ratio is 35% and the income tax rate is 40%.
A) Assume break-even volume in dollars is $1,500,000. What are total fixed costs?
B) Assume Lorna Corporation wants after-tax net income of $300,000. What volume of sales in dollars is necessary to achieve this net income?
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Research Methods And Audit For General Practice
Authors: David Armstrong, John Grace
3rd Edition
0192631918, 978-0192631916
