Question
If sales are $797,000, variable costs are 70% of sales, and operating income is $265,000, what is the contribution margin ratio? a.66% b.30% c.34% d.70%
If sales are $797,000, variable costs are 70% of sales, and operating income is $265,000, what is the contribution margin ratio?
a.66%
b.30%
c.34%
d.70%
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Fundamental accounting principle
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
21st edition
1259119831, 9781259311703, 978-1259119835, 1259311708, 978-0078025587
