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Question

a Secure https://www.mathxl.com/Student/PlayerTest.aspxtestld- 180766520¢ ACC 117 Principles of Managerial Accounting 1401 Spring 18nting Test: Test #2 Chapters 19-21 This Question: 16 pts 6 of 7 (2 complete) Lexington Company reports the following information for June ?(Cick the icon to view the amounts) Celculate the contribution margin and operating income for June usling variable costing by selecting the labels and entering the amounts to compute the contribution magin. Then, solect the labels and nter the amounts to compute the operating income Variable Costing Data Table Net Sales Revene Variable Cost of Goods Sold ed Cost of Goods Sold Variable Selling and Adminstrative Costs $ 750.000 d Seling and Administrative Coats Operating income Print Done rner any number in the input ields and then next queston MacBook Air 30 2 3 4 7

Explanation / Answer

Variable Costing

Net Sales Revenue

$750,000

Variable Cost:

Variable Cost of Goods Sold

$225,000

Variable Selling and Administrative Costs

$152,000

$377,000

Contribution Margin

$373,000

Fixed Costs:

Fixed Cost of Goods Sold

$182,000

Fixed Selling and Administrative Costs

$71,000

$253,000

Operating Income

$120,000

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