Omega Company has sales of $310,000 and cost of goods sold of $205,000. The cost of goods sold is a variable cost. The Company incurred $25,000 of fixed operating expenses and $42,500 of variable operating expenses. Based on this information Multiple Choice net income is $105,000 under the gross margin format and $37,500 under the contribution margin format. the company's gross margin is $105,000, while its contribution margin is $62,500. the company's gross margin is $62,500, while its contribution margin is $105,000. net income is $37,500 under the gross margin format and $105,000 under the contribution margin format. < Prev 19 20 21 of 21 Next >