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Determine contribution margin percentage

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Reference no: EM132955994

Question - The following totals are used to create a CVP Income Statement for Frederick Company for FY2020:

Frederick Company Selected Financial Figures For the Year Ended 12/31/20

Sales (100 units) $10,000

Variable Costs:

Direct Labor $1,750

Direct Materials 1,000

Factory Overhead (variable) 2,000

Selling Expenses (variable) 600

Administrative Expenses (variable) 500

Fixed Costs:

Factory Overhead (fixed) $800

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 determine FY 2020 Contribution Margin Percentage. Enter percentage to one decimal place.

Reference no: EM132955994

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