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Q1) Monsivais Corporation, a manufacturing company, has given financial data for February:

Sales

$470,000

variable production expense

$81,000

Variable selling expense

$11,000

Variable administrative expense

$40,000

Fixed production expense

$86,000

Fixed selling expense

$73,000

Fixed administrative expense

$139,000

Company had no beginning or ending inventories.

Contribution margin for February was:

a. $338,000

b. $303,000

c. $172,000

d. $40,000

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M916275

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