During its most recent fiscal year, Dover, Incorporated had total sales of $3,160,000. Contribution margin amounted...

 

Transcribed Image Text:

During its most recent fiscal year, Dover, Incorporated had total sales of $3,160,000. Contribution margin amounted to $1,480,000 and income was $370,000. What amount should have been reported as fixed costs in the company's contribution margin income statement for the year? During its most recent fiscal year, Dover, Incorporated had total sales of $3,160,000. Contribution margin amounted to $1,480,000 and income was $370,000. What amount should have been reported as fixed costs in the company's contribution margin income statement for the year?

Answer rating: 100% (QA)

The formula for contribution margin is Contribution Margin Sales Variabl... View the full answer