Refer to Hunter Inc. information above. What is the contribution margin ratio? 41.67% 2.40% 70.50% 61.18% Joe's Coffee House has the following information available for the month of July: Refer to the Joe's Coffee House information above. If Joe's sells 500 more cups of coffee per month, net income will increase by $850 increase by $100. increase by $150. increase by $1, 500 Which of the following statements is true when making decisions using cost-volume-profit (CVP) analysis? As long as the contribution margin is a positive number, net income will be positive As long as variable costs are more than fixed costs, net income will be negative As long as the contribution margin is greater than fixed costs, net income will be positive As long as the sales price per unit is greater than fixed costs per unit, net income will be positive. Last year, Brown Manufacturing had a contribution margin ratio of 40%. This year, fixed expenses are expected to remain at $50,000 and sales are expected to increase by $90,000. What should the contribution margin ratio be this year if the company wishes to increase net income by $31, 500? 78.75% 40.00% 35.00% 55.56%