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Lorris income statement is as follows: Sales (5,000 units) $75,000 Less variable costs (24,000) Contribution margin $51,000 Less fixed costs (12,000) Net income $ 39,000

Lorris income statement is as follows: Sales (5,000 units) $75,000 Less variable costs (24,000) Contribution margin $51,000 Less fixed costs (12,000) Net income $ 39,000 What is the contribution margin ratio?

A. 167 percent

B. 68 percent

C. 40 percent

D. 60 percent

E. None of the Above

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