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Frederick Company
Selected Financial FiguresFor the Year Ended 12/31/18
Sales (100 units) $10,000
Variable Costs:
Direct Labor $1,300
Direct Materials 1,650
Factory Overhead (variable) 2,000
Selling Expenses (variable) 600
Administrative Expenses (variable) 500
Fixed Costs:
Factory Overhead (fixed) $550
Selling Expenses (fixed) 1,000
Administrative Expenses (fixed) 1,000
Problem 1: 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 2018 Contribution Margin Percentage. Enter percentage to one decimal place. (example enter 35.5% as 35.5)
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