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The controller of Ashton Company prepared the following projected income statement: Sales $88,000 Total Variable cost 66,880 Contribution margin $21,120 Total Fixed cost 9,120 Operating

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The controller of Ashton Company prepared the following projected income statement: Sales $88,000 Total Variable cost 66,880 Contribution margin $21,120 Total Fixed cost 9,120 Operating income $12,000 Required: Calculate the contribution margin ratio. 1. % 2. Calculate the variable cost ratio. % 3. Calculate the break-even sales revenue for Ashton

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