Gary's Garage Company makes and installs garages to customers that need garages. Gary's Garage Company contribution...
Gary's Garage Company makes and installs garages to customers that need garages. Gary's Garage Company contribution margin ratio is 17% and its fixed monthly expenses are $46,000. If Gary's Garage Company's sales for a month are $303,000, what is the best estimate of Gary's Garage Company's net operating income? Assume that the fixed monthly expenses do not change.
Multiple Choice
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$5,510
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$205,490
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$51,510
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$257,000
Homework Answers
contribution margin ratio=contribution margin/Sales
=(303,000*17%)=$51510
contribution margin-Fixed expenses=net operating income
net operating income=$51510-$46,000
=$5510.
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