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The Gasson Company sells three products, Product A, Product B and Product C, and had sales of $1,000,000 during the month of June. The company's overall contribution margin ratio was 37% and fixed expenses totaled $350,000. Sales were: Product A, $500,000; Product B, $300,000; and Product C, $200,000. Traceable fixed costs were: Product A, $120,000; Product B, $100,000; and Product C, $60,000. The variable expenses of Product A were $300,000 and the variable expenses of Product B were $180,000.

1. The net operating income for the company as a whole for June was?

2. The contribution margin ratio for Product C is?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9965678

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