The following income statement applies to Drake Company for the current year:
Income Statemen...
Business, 17.02.2020 22:26 briannabo08
The following income statement applies to Drake Company for the current year:
Income Statement:
Sales Revenue (650 units x $75) $48,750
Variable Costs (650 units x $41.20) (26,780)
Contribution Margin 21,970
Fixed Costs (11,000)
Net Income $10,970
Required:
1. Using the preceding information for Drake Company and your calculation of operating leverage, what will be the amount of net income if Drake Company experiences a 25% increase in revenue?
Answers: 2
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