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Assume sales are $750,000, variable costs are 70% of sales, and operating income is $100,000. What is the contribution margin ratio and fixed cost, respectively?
Assume sales are $750,000, variable costs are 70% of sales, and operating income is $100,000. What is the contribution margin ratio and fixed cost, respectively? a. 30% and $125,000 b. 70% and $125,000 c. 70% and $625,000 d. 30% and $625,000
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