Our company's GAAP income statement includes the following line items: Revenues Gross Margin Net Operating...
80.2K
Verified Solution
Link Copied!
Question
Accounting
Our company's GAAP income statement includes the following line items: Revenues Gross Margin Net Operating Income $3,600,000 $400,000 $150,000 We don't have any inventories. 30% of our total manufacturing costs are fixed. Variable Selling & Administrative (S&A) expenses equal 5% of sales (the rest of S&A expenses are fixed). Our margin of safety is closest to (Do not round intermediate calculations.) A. $3,142,373 B. $1,350,000 C. $400,742 D. $150,000 E. $ 457,627
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
