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Determine fy 2018 contribution margin percentage

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Reference no: EM132319217

Question

The following totals are used for the 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 - $1,750

Direct Materials - 1,750

Factory Overhead (variable) - 2,000

Selling Expenses (variable) - 600

Administrative Expenses (variable) - 500

Fixed Costs:

Factory Overhead (fixed) - $950

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 2018 Contribution Margin Percentage. Enter percentage to one decimal place.

Reference no: EM132319217

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