Question: The contribution format income statement for Westex, Inc., for its most recent period is given below: Total Unit Sales $ 1,002,000 $ 50.10 Variable expenses
| The contribution format income statement for Westex, Inc., for its most recent period is given below: |
| Total | Unit | ||||
| Sales | $ | 1,002,000 | $ | 50.10 | |
| Variable expenses | 601,200 | 30.06 | |||
| Contribution margin | 400,800 | 20.04 | |||
| Fixed expenses | 322,800 | 16.14 | |||
| Net operating income | 78,000 | 3.90 | |||
| Income taxes @ 40% | 31,200 | 1.56 | |||
| Net income | $ | 46,800 | $ | 2.34 | |
| The company had average operating assets of $493,000 during the period. |
| Required: | |
| 1. | Compute the company |
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