Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

If sales are $813,000, variable costs are 37% of sales, and operating Income is $278,000, what is the contribution margin ratio?

If sales are $813,000, variable costs are 37% of sales, and operating Income is $278,000, what is the contribution margin ratio?

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

Financial Accounting

Authors: Robert Kemp, Jeffrey Waybright

4th edition

978-0134125053, 9780134114781, 134125053, 134114787, 978-0134436111

More Books

Students also viewed these Accounting questions