Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A cement manufacturer has supplied the following data: Tons of cement produced and sold 245,000 Sales revenue $949,000 Variable manufacturing expense $226,000 Fixed manufacturing expense
A cement manufacturer has supplied the following data:
Tons of cement produced and sold | 245,000 |
Sales revenue | $949,000 |
Variable manufacturing expense | $226,000 |
Fixed manufacturing expense | $295,000 |
Variable selling and administrative expense | $153,600 |
Fixed selling and administrative expense | $87,000 |
Net operating income | $187,400 |
The company's contribution margin ratio is closest to:
45.1%
60.0%
68.9%
19.7%
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started