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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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