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Waterway Industries reported the following information for the current year: Sales (54000 units) $1080000, direct materials and direct labor $540000, other variable costs $54000, and

Waterway Industries reported the following information for the current year: Sales (54000 units) $1080000, direct materials and direct labor $540000, other variable costs $54000, and fixed costs $360000. What is Waterways contribution margin ratio? 55%. 67%. 45%. 33%.

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