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Wayfair Co. reported the following results from the sale of 5,500 tables in May: sales $300,000, variable costs $165,000, fixed costs $85,000, and net income
Wayfair Co. reported the following results from the sale of 5,500 tables in May: sales $300,000, variable costs $165,000, fixed costs $85,000, and net income $50,000. Assume that Wayfair increases the selling price of tables by 10% on June 1. How much is the new contribution margin ratio?
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