Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

If sales are $807,000, variable costs are 73% of sales, and operating income is $211,000, what is the contribution margin ratio? a. 69% b. 27%

image text in transcribed
If sales are $807,000, variable costs are 73% of sales, and operating income is $211,000, what is the contribution margin ratio? a. 69% b. 27% c. 31% d. 73%

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_2

Step: 3

blur-text-image_3

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

Research Methods And Audit In General Practice

Authors: David Armstrong, John Grace

1st Edition

0192624547, 978-0192624543

More Books

Students also viewed these Accounting questions

Question

x-3+1, x23 Let f(x) = -*+3, * Answered: 1 week ago

Answered: 1 week ago

Question

Describe new developments in the design of pay structures. page 475

Answered: 1 week ago