Reference no: EM132606616

Question - The following totals are used to create CVP Income Statement for Frederick Company for FY2018:

Frederick Company Selected Financial Figures For the Year Ended 12/31/18

Sales (100 units) $10,000

Variable Costs:

Direct Labor $1,400

Direct Materials 1,150

Factory Overhead (variable) 2,000

Selling Expenses (variable) 600

Administrative Expenses (variable) 500

Fixed Costs:

Factory Overhead (fixed) $750

Selling Expenses (fixed) 1,000

Administrative Expenses (fixed) 1,000

Frederick Company utilizes a JIT production system and there are no Raw Materials, Work-in-Process or Finished Goods inventories. Use this information to calculate FY 2018 Contribution Margin Percentage. Enter percentage to one decimal place.