Chung, Inc. sells 100,000 wrenches for $24 per unit. Fixed costs are $700,000 and net income is $500,000. What should be reported as variable expenses in the CVP income statement

$1,200,000

Explanation:

Contribution = Fixed cost + Net operating income

= $700,000 + $500,000

= $1,200,000

Variable expenses = Sales - Contribution

= 100,000*$24 - $1,200,000

= 2,400,000 -- $1,200,000

= $1,200,000

Therefore, the variable expenses is $1,200,000

the correct answer is:

it required the president to inform congress within forty-eight hours of any new troop commitment.

the war powers resolution (1973) is a federal law designed to limit the u.s. president’s ability to initiate or intensify military actions abroad without the approval of the congress.

it establishes that the president can send armed forces into action abroad only by declaration of war by congress, statutory authorization, or in case of a national emergency created by attack upon the united states, its territories or possessions, or its armed forces.

it requires the president to notify congress within 48 hours of sending armed forces to military action.