5.3 Cost-Volume-Profit Analysis Jenny's Cutting Station offers 15-minute haircuts for mall shoppers who do not have time for lengthy appointments. Each of Jenny's five employees is paid $1,200 per month, and each also receives tips from customers. Jenny pays rent and overhead costs of $2.000 per month. Shampoo, conditioner, and other products average $1.50 per client. The average price for a haircut is $12. Jenny pays herself $5,000 per month. What is Jenny's contribution margin ratio? O 12.5% O 87.5% 83.5% O 8.3% Save for Later Submit Answer