In an internal operating income statement, the form is as such:
(1) Sales (or Revenue) - Total Variable Costs = Contribution Margin;
(2) Contribution Margin - Total Fixed Costs = Operating Income
and
(3) Contribution Margin Ratio = Contribution Margin/Sales
The first equation helps us out. Sales is the whole amount for this statement, or 100%. We know variable costs are 62% and the rest goes to the Cont. Margin.
100% - 68% = 32% (choice A)
Using a calculator: cos 70 deg = 0.342. Note: it sounds as tho' you were given several answer options. Where are they?
We can solve this system using elimination:
(x+y=24)3
3x+5y=100
3x+3y=72
-(3x+5y=100)
0x-2y=-28
y=14
We can then plug this back into one of the original equations:
x+14=24
x=10
We can check our answer by plugging this into both of the original equations:
10+14=24
24=24
3(10) + 5(14)=100
30+70=100
100=100
Therefore, there are 10 3-point questions and 14 5-point questions.
