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TockTick Enterprises has the following information: Sales =$1,000,000 Variable costs =55% of sales Net income =$300,000 What is the contribution margin ratio? 55% 45% 38%

TockTick Enterprises has the following information: Sales =$1,000,000 Variable costs =55% of sales Net income =$300,000 What is the contribution margin ratio? 55% 45% 38% 35% 32% 25%

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