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What is company contribution margin ratio for corporation

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Reference no: EM132812532

The following is Corporation A's contribution format income statement for last month:

Sales$1,000,000

Less: variable expenses 700,000

Contribution margin 300,000

Less: fixed expenses 180,000

Operating income $120,000

Problem 1: The company has no beginning or ending inventories. A total of 20,000 units were produced and sold last month. What is the company's contribution margin ratio?

Select one:

a. 250%

b. 30%

c. 70%

d. 150%

Reference no: EM132812532

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