The Gasson Company Sells Three Products, Product A, Product B

question 100

Multiple Choice

The Gasson Company sells three products, Product A, Product B and Product C, and had sales of $1,000,000 during the month of June. The company's overall contribution margin ratio was 37% and fixed expenses totaled $350,000. Sales were: Product A, $500,000; Product B, $300,000; and Product C, $200,000. Traceable fixed costs were: Product A, $120,000; Product B, $100,000; and Product C, $60,000. The variable expenses of Product A were $300,000 and the variable expenses of Product B were $180,000.
-The net operating income for the company as a whole for June was:

• A)$20,000
• B)$90,000
• C)$170,000
• D)$300,000

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Definitions:

Antislavery Sentiment

The attitude, movement, or ideology opposing slavery, advocating for its abolition, and supporting freedom for enslaved people.

Abolitionist Ranks

Individuals and groups actively involved in the movement to end slavery and the slave trade throughout the 18th and 19th centuries.

Kansas-Nebraska Act

1854 law sponsored by Illinois senator Stephen A. Douglas to allow settlers in newly organized territories north of the Missouri border to decide the slavery issue for themselves; fury over the resulting repeal of the Missouri Compromise of 1820 led to violence in Kansas and to the formation of the Republican Party.

Republican Party

A major political party in the United States, typically associated with conservative and right-leaning policies, emphasizing limited government and individual freedoms.