Q1) Management of Gilmartin Corporation, a manufacturing company, has given the following data for February:
|
Sales
|
$550,000
|
|
variable production expense
|
$104,000
|
|
Fixed production expense
|
$122,000
|
|
Variable selling expense
|
$24,000
|
|
Fixed selling expense
|
$102,000
|
|
Variable administrative expense
|
$56,000
|
|
Fixed administrative expense
|
$116,000
|
Contribution margin for February was:
i) $366,000
ii) $210,000
iii) $26,000
iv) $324,000