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Use the information below to compute (properly) the variable cost of goods sold per sales dollar. Round to the 3rd decimal place. Use the Hi-Low

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Use the information below to compute (properly) the variable cost of goods sold per sales dollar. Round to the 3rd decimal place. Use the Hi-Low Method. Year 2016 2018 2017 Total Revenue 5,354,000 6,423,000 7,424,000 Cost of Revenue 2,460,000 2,136,000 2,265,000 Gross Profit 2,894,000 4,287,000 5,159,000 Selling General and Administrative 410,000 395,000 431,000 Total Operating Expenses 3,017,000 2,948,000 3,184,000

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