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Given below are the two independent situations: (a) If Henry Company's budgeted sales are $800,000, fixed costs are $350,000, and variable costs are $600,000, what

Given below are the two independent situations:

(a) If Henry Company's budgeted sales are $800,000, fixed costs are $350,000, and variable costs are $600,000, what is the budgeted contribution margin ratio?

(b) If the contribution margin ratio is 30% for Gray Company, sales are $900,000, and fixed costs are $180,000, what is the operating profit?

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