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Rozella's income statement is as follows: Sales (10,000 units) $120,000 Less variable costs - 48,000 Contribution margin $72,000 Less fixed costs - 24,000 Net income
Rozella's income statement is as follows:
| Sales (10,000 units) | $120,000 |
| Less variable costs | - 48,000 |
| Contribution margin | $72,000 |
| Less fixed costs | - 24,000 |
| Net income | $ 48,000 |
What is the contribution margin ratio?
Select one:
a. 30 percent
b. 60 percent
c. 167 percent
d. 40 percent
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