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If sales are $820,000, variable costs are 68% of sales, and operating income is $260,000, what is the contribution margin ratio? a, 53% b. 38%

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If sales are $820,000, variable costs are 68% of sales, and operating income is $260,000, what is the contribution margin ratio? a, 53% b. 38% ?. 47% d. 32%

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