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A manufacturer of tiling grout has supplied the following data: Kilograms produced and sold410,000Sales revenue$ 1,900,000Variable manufacturing expense$ 949,000Fixed manufacturing expense$ 244,000Variable selling and administrative
A manufacturer of tiling grout has supplied the following data:
Kilograms produced and sold410,000Sales revenue$ 1,900,000Variable manufacturing expense$ 949,000Fixed manufacturing expense$ 244,000Variable selling and administrative expense$ 338,000Fixed selling and administrative expense$ 210,000Net operating income$ 159,000
The company's contribution margin ratio is closest to:
Multiple Choice
50.1%
32.3%
76.1%
82.2%
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