Question
The following is Tucker Inc's contribution format income statement for last month: Sales $800,000 Less variable expenses 300,000 Contribution margin 500,000 Less fixed expenses 400,000
The following is Tucker Inc's contribution format income statement for last month:
| Sales | $800,000 |
| Less variable expenses | 300,000 |
| Contribution margin | 500,000 |
| Less fixed expenses | 400,000 |
| Net income | $100,000 |
The company has no beginning or ending inventories. The company produced and sold 10,000 units last month. What is the company's contribution margin ratio?
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Fundamentals of Advanced Accounting
Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik
5th edition
978-0077924379, 77924371, 978-0078025396, 78025397, 978-0077425654, 77425650, 978-0077667061
