Cournot Company sells 100,000 wrenches for $12 a unit. Fixed costs are $300,000, and net income is $200,000. What should be reported as variable expenses in the CVP income statement?
A. $1,000,000.
B. $500,000.
C. $900,000.
D. $700,000.
Answer: D
Cournot Company sells 100,000 wrenches for $12 a unit. Fixed costs are $300,000, and net income is $200,000. What should be reported as variable expenses in the CVP income statement?
A. $1,000,000.
B. $500,000.
C. $900,000.
D. $700,000.
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