Required Information
[The following information applies to the questions displayed below.]
Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000 units (the
relevant range of production is 500 units to 1,500 units):
Sales
$ 90,000
Variable expenses
49,500
Contribution margin
40,500
Fixed expenses
33,210
Net operating income
$ 7,290
3. What is the variable expense ratio?
Venable expense ratio
%