The following is Addison Corporations contribution format income statements for last month. The company has...
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The following is Addison Corporations contribution format income statements for last month. The company has no beginning or ending inventories. A total of 10,000 units were produced and sold last month. The following is last months contribution format income statement: Sales (10,000 units). $ 1,200,000 Variable expenses .. 800,000 Contribution margin 400,000 Fixed expenses 240,000 Net operating income.. $ 160,000 Determine the margin of safety.
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