Question Folk Furniture Company manufactures and sells oak tables and chairs. Price and cost data for the furniture follow (Click the icon to view the price and cost data) Folk Furniture has three sales representatives: Alfred, Brody, and Colleen. Alfred sold 60 tables with 6 chairs each. Brody sold 100 tables with 4 chairseach Coleen sold 70 tables with chairs each Read the requirements 100 Requirement 1. Calculate the total contribution margin and the contribution margin ratio for each sales representative (round to two decimal places) Before calculating the total contribution margin, begin by identifying and calculating the total number of tables and chairs sold by each sales representative for the period Sales representative Tables sold Chairs per table Total chairs sold Alfred Brody 400 Colleen 560 Calculate the total contribution margin for each sales representative Sales representabve: Alfred Brody Colleen 134200 1 38600 Net sales revenue 82800 74910 69930 43740 Variable costs 6 39060 59290 8670 Contribution margin 2 Data Table Tables Chairs 900 $ Sales Price Variable manufacturing costs Sales commission (5%) 540 45 Print Done = Archie Bill Candy Contribution margin / Net sales revenue 39,050 $ 99,000 57,150 $ 117,000 29,700 / $ 66,000 Contribution margin ratio 39.44 % 48.85 % 45.00 % 11 Requirement 2. Which sales representative has the highest contribution margin ratio? Explain why. Bill is the sales representative with the highest contribution margin ratio because this representative Data Table Chairs $ Sales Price Variable manufacturing costs Sales commission (5%) Tables 900 $ 540 45 2 0 4 Print Print Done Done