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Kelchner Corporation has provided the following contribution format income statement. Assume that the following information is within the relevant range. Sales (3,000 units) $ 180,000

Kelchner Corporation has provided the following contribution format income statement. Assume that the following information is within the relevant range.

Sales (3,000 units)

180,000

Variable expenses

108,000

Contribution margin

72,000

Fixed expenses

62,400

Net operating income

9,600

What is the contribution margin ratio for Kelchner Corporation? Explain how.

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