Consider the income statement for Pickbury Farm Sales$500,000, Variable costs 350,000, Contribution margin 150,000, Fixed costs 80,000,

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Consider the income statement for Pickbury Farm Sales$500,000, Variable costs 350,000, Contribution margin 150,000, Fixed costs 80,000, Net income $70,000. What is the margin of safety ratio (to the nearest percentage point)

a). 88

b). 30

c). 47

d). 70

Related Book For answer-question

Accounting

ISBN: 978-0324662962

23rd Edition

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

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Posted Date: Oct 19, 2020 07:15 PM

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Consider the income statement for Pickbury Farm Sales$500,000, Variable costs 350,000, Contribution margin 150,000, Fixed costs 80,000,

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margin of safety ratiocurrent sales break even point salescurrent sales10... View the full answer

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