Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The Southern Co. manufactures office chairs. The following information for the month of June is available: Selling price per chair $150 Variable cost per chair
The Southern Co. manufactures office chairs. The following information for the month of June is available:
Selling price per chair
$150
Variable cost per chair
70
Total fixed cost
110,000
What is the company's contribution margin ratio? (Round answer to two decimal places.)
a. 73.41%
b. 46.67%
c. 63.33%
d. 53.33%
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started