Question: Serfass Corporation's contribution format income statement for July appears below: Sales $ 448,500 Variable expenses 224,250 Contribution margin 224,250 Fixed expenses 58,310 Net operating income

Serfass Corporation's contribution format income statement for July appears below:

Sales $ 448,500
Variable expenses 224,250
Contribution margin 224,250
Fixed expenses 58,310
Net operating income $ 165,940

The degree of operating leverage is closest to:

Multiple Choice

  • 0.37

  • 0.74

  • 2.00

  • 1.35

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