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Required information Skip to question [The following information applies to the questions displayed below.] Oslo Company prepared the following contribution format income statement based on
Required information
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[The following information applies to the questions displayed below.]
Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000 units (the relevant range of production is 500 units to 1,500 units):
Sales | $ | 24,200 |
Variable expenses | 13,400 | |
Contribution margin | 10,800 | |
Fixed expenses | 7,668 | |
Operating income | $ | 3,132 |
11-a. What is the margin of safety in dollars? (Do not round intermediate calculations.)
11-b. What is the margin of safety percentage? (Round your final answer to the nearest whole percentage (i.e, .12 should be entered as 12).)
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