Serfass Corporation's contribution format income statement for July appears below: Sales................................... $260,00 0
Variable expenses.............. 176,000
Contribution margin.......... 84,000
Fixed expenses................... 71,800
Net operating income......... $ 12,200
The degree of operating leverage is closest to:
A) 0.05
B) 0.15
C) 21.31
D) 6.89
