Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Use this info to answer questions 18 through 20: Fixed Expenses Rent $24,000 Salaries $40,000 Depreciation $13,000 Variable Expenses Cost of Goods Sold 58% of
Use this info to answer questions 18 through 20: Fixed Expenses Rent $24,000 Salaries $40,000 Depreciation $13,000 Variable Expenses Cost of Goods Sold 58% of sales Supplies 7% of sales Sales Commissions 5% of sales 18. What is the company's contribution margin ratio? A. 30% B. 70% C. Cannot be determined 19. What is the break-even point in dollars? A. $77,000 B. $110,000 C. $256,667 20. If the company wants to earn a profit of $35,000, what is the amount of sales the company must achieve? A. $112,000 B. $145,000 C. $373,333
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started