Pankey Company makes calendars. Information on cost per unit is as follows: Direct materials $1.50 Direct labor 1.20 Variable overhead 0.90 Variable marketing expense 0.40 Fixed marketing expense totaled $13,000 and fixed administrative expense totaled $35,000. The price per calendar is $10. What is the contribution margin ratio? 40% 60% 50% 36% 7. Napper & Vang Company sells only one product at a regular price of $9.00 per unit. Variable expenses are 55% of sales, and fixed expenses are $40,000. Management has decided to decrease the selling price to $8.00 in the hope of increasing its volume of sales. What is the contribution margin ratio when the selling price is reduced to $8.00 per unit? (Note: Round answer to two decimal places.) 38.13% 60.50% 40.50% 75.46% Joshua Company makes and sells power tools. The budgeted sales are $650,000, the budgeted variable costs are $170,000, and the budgeted total fixed cost is $280,000. What is the budgeted operating income? $73,000 $223,700 $84,500 $200,000