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The following income statement is provided for Ramirez Company for the current year: Sales revenue (3,000 units * $20.50 per unit) Cost of goods sold
The following income statement is provided for Ramirez Company for the current year: Sales revenue (3,000 units * $20.50 per unit) Cost of goods sold (variable; 3,000 units x $8.50 per unit) Cost of goods sold (fixed) Gross margin Administrative salaries Depreciation Supplies (3,000 units * $2.50 per unit) Net income $ 61,500 (25,500) (4,500) 31,500 (6,500) (4,500) (7,500) $ 13,000 What amount was the company's contribution margin? Multiple Choice $31,500 $28,500 $13,000 $36.000
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