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What is the contribution margin ratio for nick

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Reference no: EM132714523

Nick prepared the following contribution format income statement based on a sales volume of 1,000 units (the relevant range of production is 500 units to 1,500 units):

Sales     $23,000

Variable expenses 13,000

Contribution margin 10,000

Fixed expenses 8,500

Net operating income $1,500

Required:

Problem 1: What is the contribution margin ratio?

Reference no: EM132714523

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