Question: Answer correctly The contribution format income statement for Huerra Company for last year is given below: Unit Sales $1,002,000 50.10 Variable expenses 601,200 30.06 Contribution

Answer correctly Answer correctly The contribution format income statement for Huerra Company for

last year is given below: Unit Sales $1,002,000 50.10 Variable expenses 601,200

30.06 Contribution margin 400,800 20.04 Fixed expenses 320,800 16.04. Net operating income

80,000 4.00 Income taxes 40% 32,000 1.60 Net income 48,000 2.40 The

company had average operating assets of $501,000 during the year. Required

The contribution format income statement for Huerra Company for last year is given below: Unit Sales $1,002,000 50.10 Variable expenses 601,200 30.06 Contribution margin 400,800 20.04 Fixed expenses 320,800 16.04. Net operating income 80,000 4.00 Income taxes 40% 32,000 1.60 Net income 48,000 2.40 The company had average operating assets of $501,000 during the year. Required

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