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Variable Costing Leone Company has the following information for July: Sales $500,000 Variable cost of goods sold 225,000 Fixed manufacturing costs 85,000 Variable selling and

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Variable Costing Leone Company has the following information for July: Sales $500,000 Variable cost of goods sold 225,000 Fixed manufacturing costs 85,000 Variable selling and administrative expenses 45,000 Fixed selling and administrative expenses 35,000 Determine the following for Leone Company for the month of July: a. Manufacturing margin b. Contribution margin c. Operating income

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