1. Contribution Margin Ratio

   a. Imelda Company budgets sales of $1,300,000, fixed costs of $52,700, and variable costs of $234,000. What is the contribution margin ratio for Imelda Company? (Enter your answer as a whole number.) ________ %

   b. If the contribution margin ratio for Peppa Company is 41%, sales were $517,000, and fixed costs were $156,860, what was the income from operations? $____