FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

TB MC Qu. 5-62 Gayne Corporation's contribution margin ratio is ... Gayne Corporation's contribution margin ratio is 19% and its fixed monthly expenses are $54,000.

image text in transcribed
TB MC Qu. 5-62 Gayne Corporation's contribution margin ratio is ... Gayne Corporation's contribution margin ratio is 19% and its fixed monthly expenses are $54,000. If the company's sales for a month are $319,000, what is the best estimate of the company's net operating income? Assume that the fixed monthly expenses do not change. Multiple Choice $204,390 $265,000 56,610 $60.610

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 And Assurance Services

Auditing And Assurance Services

Authors: William Messier, Steven Glover, Douglas Prawitt

6th International Edition

0071284664, 978-0071284660

More Books

Students also viewed these Accounting questions

Question

★★★★★
Nova Corporation has 500,000 authorized shares of $1 par value common stock, of which 200,000 are issued, including 20,000 shares of treasury stock. On October 15, the corporations board of directors...

Answered: 1 week ago

Question

★★★★★
3. On July 1, Hartford Construction purchases a bulldozer for $228,000. The equipment has a 9-year life with a residual value of $16,000. Hartford uses the units-of-output method of depreciation, and...

Answered: 1 week ago

Question

★★★★★
=+c) Looking at the histograms in Exercise 22, at what sample size would you be comfortable using the Normal model as an approximation for the sampling distribution?

Answered: 1 week ago

Question

★★★★★
The Fanta Company presents you with the following account balances taken from its December 31, 2007 adjusted trial balance: Inventory, January 1, 2007 ............. $ 43,000 Selling expenses...

Answered: 1 week ago

Question

★★★★★
Palette Company acquired 100 percent of Saffron Companys outstanding common stock for $370,000 on January 1, 2X21, when the book value of Saffrons net assets was equal to $370,000. Palette chooses to...

Answered: 1 week ago

Question

★★★★★
Wayne Company is considering a long-term investment project called ZIP. ZIP will require an investment of $123,600. It will have a useful life of 4 years and no salvage value. Annual cash inflows...

Answered: 1 week ago

Question

★★★★★
O'Hara Photography's checkbook lists the following (Click the icon to view the checkbook.) Read the requirements Requirement 1. Prepare O'Hara Photography's bank reconciliation at November 30, 2024....

Answered: 1 week ago

Question

★★★★★
On January 1, 2022, Blossom Corporation acquired machinery for $1470000. Blossom adopted the straight-line method of depreciation for this machine and had been recording depreciation over an...

Answered: 1 week ago

Question

★★★★★
The result of a TLC experiment showed that a compound has an Rf value of 0.25 on a silica gel plate using 10% ethyl acetate in hexane as the mobile phase. Indicate if the Rf values of the compound...

Answered: 1 week ago

Question

★★★★★
What are the purposes of promotion ?

Answered: 1 week ago

Question

★★★★★
Describe the spatial arrangements in the home of your family of origin. Was there a room in which family members interacted a good deal? How was furniture arranged in that room? Who had separate...

Answered: 1 week ago

Question

★★★★★
Attend a public hearing at your school or in the nearby community. It could be a meeting about zoning, placement of a public facility, etc. Observe nonverbal communication such as where public offi...

Answered: 1 week ago

Question

★★★★★
Think about current gender prescriptions in the United States. How are men and women supposed to look? How are these cultural expectations communicated? How might you resist and alter unhealthy...

Answered: 1 week ago

Previous Question Next Question