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[The following information applies to the questions displayed below.] Income Statement Sales (1,000 units) $ 50,000 Variable expenses 27,500 Contribution margin 22,500 Fixed expenses 14,850
[The following information applies to the questions displayed below.]
Income Statement | ||
Sales (1,000 units) | $ | 50,000 |
Variable expenses | 27,500 | |
Contribution margin | 22,500 | |
Fixed expenses | 14,850 | |
Net operating income | $ | 7,650 |
2. What is the contribution margin ratio?
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