If sales are $500,000, variable costs are $200,000, and fixed costs are $240,000, what is the contribution
Question:
If sales are $500,000, variable costs are $200,000, and fixed costs are $240,000, what is the contribution margin ratio?
a. 40%
b. 48%
c. 52%
d. 60%
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (4 reviews)
d The contribution margin ratio indicates the percentag...View the full answer
Answered By
Carly Cimino
As a tutor, my focus is to help communicate and break down difficult concepts in a way that allows students greater accessibility and comprehension to their course material. I love helping others develop a sense of personal confidence and curiosity, and I'm looking forward to the chance to interact and work with you professionally and better your academic grades.
4.30+
12+ Reviews
21+ Question Solved
Related Book For
Financial And Managerial Accounting
ISBN: 9781337902663
15th Edition
Authors: Carl S. Warren, Jefferson P. Jones, William B. Tayler
Question Posted:
Students also viewed these Business questions
-
Study the information given below and answer the following questions: (25 Marks) 1.1 Calculate the Payback Period of both machines (answers expressed in years, months and days). (5 marks) 1.2 Which...
-
If the unit sales price is $15, variable costs are $6 per unit and fixed costs are $22,000 what is the contribution margin ratio per unit?
-
If the unit sales price is $15, variable costs are $5 per unit and fixed costs are $22,000 what is the contribution margin ratio per unit?
-
Following is the condensed balance sheet of Martinez, O'Neill and Clemens, partners who share profits or losses in the ratio of 2 : 3 : 5. Cash $50,000 Liabilities $200,000 Other assets 1,050,000...
-
Assign absolute configurations as R or S to each of the following compounds:
-
Split your team in two, each group to analyze one of the following reaction sequences by a mechanism ( 13 C 5 carbon-13 isotope).
-
The following data for Bernie Company pertain to the production of 500 units of Product X during December. Selected data items are omitted. Required Complete the missing amounts lettered (a) through...
-
A school district grants teachers a sabbatical leave every seven years. Yet, consistent with GAAP, it fails to accrue a liability for such leave over the period in which the leave is earnednot even...
-
and B = (3,-4), wri = 4) Forces G and H are acting on an object so that |G|- the direction angle of G and OH is the direction angle If is the resultant force on the object, determine the You may...
-
Blueberry Inc., a consumer electronics company, manufactures and sells two products, smartphones and tablet computers. The unit selling price, unit variable cost, and sales mix for each product are...
-
Based on the following operating data, what is the operating leverage? a. 0.8 b. 1.2 c. 1.8 d. 4.0 Sales...... Variable costs Contribution margin..... Fixed costs..... Operating income.. $ 600,000...
-
Suppose John has an online company that sells custom rims for cars. John has designed two different Web pages that he wants to use to sell his rims online. However, he cannot decide which page to go...
-
Abdul's tax liabilities for the tax years 2021/22 and 2022/23 are as follows: 2021/22 2022/23 Income tax payable 300 2,400 Class 4 national insurance contributions 320 1,260 Capital gains tax...
-
Assume the following C code :- marks) for(i=0; i
-
Reflection: In a minimum of 100-200 words per question, describe what you did and/or observed during this 3rd grade math class field experience. What went well? *
-
Meredith Company has budgeted sales for the upcoming months as follows April May June July $366,000 378,000 398,000 418,000 406,000 August September 386,000 Assume that 40 percent of the sales are...
-
Assuming that the loss is covered, how much would be paid for the following losses under a standard H 0 3 policy with dwelling coverage of $ 5 0 , 0 0 0 ?
-
Rodi was recruited to the defendant law school, which had provisional accreditation, by statements indicating that accreditation would be forthcoming. (However, the school's catalog, which was sent...
-
TRUE OR FALSE: 1. Banks with a significantly large share of fixed-interest rate home loans are less exposed to interest rate risks. 2. Although Australian banks are pretty big, they are not...
-
Journalize entries for the following related transactions of Blue Moon Company: a. Purchased $60,000 of merchandise form Sierra Co. on accounts, terms 1/10, n/30. b. Paid the amount owed on the...
-
Determine the amount to be paid in full settlement of each of the following invoices, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid...
-
A sale of merchandise on account for $28,000 is subject to a 7% sales tax. (a) Should the sales tax be recorded at the time of sale or when payment is received? (b) What is the amount of the sale?...
-
Ryan Company deposits all cash receipts on the day they are received and makes all cash payments by check Ryan's June bank statement shows $19.861 on deposit in the bank. Ryan's comparison of the...
-
Pear Garde Corporation has 150,000 shares of $1.35 preferred stock outstanding in addition to its common stock. The 51.35 designation means that the preferred stockholders receive an annual cash...
-
14. Charlene Cosmetics Company uses a periodic inventory system. The company began business operations in March and made the following four inventory purchases: March 1 March 10 March 15 March 28...
Study smarter with the SolutionInn App