Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

If sales are $20,000, variable costs are $8,000, and fixed costs are $2,000, the contribution margin ratio is: (rounded to the nearest number) a. 10%

image text in transcribed

If sales are $20,000, variable costs are $8,000, and fixed costs are $2,000, the contribution margin ratio is: (rounded to the nearest number) a. 10% O b. 50% . 60% d. None of the given answers 40% e

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

IT Auditing And Application Controls For Small And Mid Sized Enterprises Revenue Expenditure Inventory Payroll And More

Authors: Jason Wood, William Brown, Harry Howe

1st Edition

1118072618, 9781118072615

More Books

Students also viewed these Accounting questions

Question

socialist egalitarianism which resulted in wage levelling;

Answered: 1 week ago

Question

soyuznye (all-Union, controlling enterprises directly from Moscow);

Answered: 1 week ago