QUESTION 14 Mimou Co.'s contribution format income statement for the most recent month is shown...
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Accounting
QUESTION 14
Mimou Co.'s contribution format income statement for the most recent month is shown below:
|
|
| Total |
| Sales |
| $ 96,000 |
| Variable expenses |
| 38,400 |
| Contribution margin |
| 57,600 |
| Fixed expenses |
| 45,120 |
| Net operating income |
| $ 12,480 |
|
|
|
|
What is the company's degree of operating leverage? Round your answer to 2 decimal places.
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