The following information for the past year for the Lambert Company has been provided: (Total 6 marks)

Fixed costs:
Manufacturing	$150,000
Marketing	28,000
Administrative	21,000
Variable costs:
Manufacturing	$132,000
Marketing	32,000
Administrative	43,000

Q5) During the year, the Lambert Company produced and sold 50,000 units of product at a sale price of $10.00 per unit. There was no beginning inventory of product at the beginning of the year. (6 marks)

1. What is the contribution margin for the year at the Lambert Company? (3 marks)

A) $94,000

B) $293,000

C) $301,000

D) $500,000

Answer:

B) What is the operating income (loss) for the year at the Lambert Company? (3 marks)

A) $94,000

B) $301,000

C) $500,000

D) $293,000

Answer: