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New Mexico Company provided the following information regarding its only product skateboards Direct materials used 200000 Direct labor 80000 Fixed overhead 100000 Fixed selling and administrative

New Mexico Company provided the following information regarding its only product--skateboards.
Direct materials used                                     $200,000
Direct labor                                                    80,000
Fixed overhead                                             100,000
Fixed selling and administrative costs           150,000
Variable overhead                                         20,000
Variable selling and administrative                60,000
Selling unit price                                            80
Units produced and sold                               10,000
_____ is the contribution margin if the contribution approach is used.
a. $350,000
b. $390,000
c. $470,000
d. $500,000

Jun 10 2021 View more View Less

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