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ABC Company's sales are $10,000,000. Its variable costs are 40% of sales. Its net income is $1,500,000. Calculate ABC's contribution margin ratio. Enter the
ABC Company's sales are $10,000,000. Its variable costs are 40% of sales. Its net income is $1,500,000. Calculate ABC's contribution margin ratio. Enter the percentage as a decimal to three decimal places (e.g., 62.5% would be .625).
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
10th Edition
1119491630, 978-1119491637, 978-0470534793
